BERLIN, Jan 30 (Reuters) - U.S. hedge fund Elliott has obtained the right to take a stake in German machine-tool maker DMG Mori Seiki AG, for which Japanese partner DMG Mori Seiki Co Ltd made a takeover offer last week, the German company said on Friday.
Elliott used share purchase agreements to gain the right to own a 5.55 percent stake in DMG, the German company said. The hedge fund does not directly own shares in DMG.
The 5 percent threshold was crossed on Jan. 22, DMG said.
Under German law, investors must disclose when their holding in a company breaches certain thresholds, the lowest being 3 percent.
Japan’s DMG Mori Seiki last week offered 27.50 euros ($31) in cash for each outstanding share in DMG, valuing the company at nearly 2.2 billion euros, DMG Mori Seiki AG Chief Executive Ruediger Kapitza told Reuters. ($1 = 0.8857 euros) (Reporting by Andreas Cremer, editing by David Evans)