GL repels French invasion

摘要

Germanischer Lloyd has secured its independence for the time being after Hamburg entrepreneur Guenter Herz stepped in to buy enough of its shares in mid-December to foil the takeover bid by Bureau Veritas. Smiling members of the GL board announced the surprise development shortly after the French society had indicated it might increase its bid. GL declared the intervention by Herz to be a victory for customers and ship safety.