Shares in Swiss firm Aluflexpack surge after takeover bid launched (updated)

Aluflexpack AG

16/02/2024 09:01

(Recasts with share price jump)
       ZURICH, Feb 16 (Reuters) - Shares in Swiss packaging
firm Aluflexpack  AFPD.S  surged by more than 80% on Friday
after it said Austrian peer Constantia Flexibles had made a
takeover offer for the company.
    Aluflexpack said Constantia is offering between 15 and 18.75
Swiss francs per share, a premium of up to 117% on the firm's
previous closing price of 8.71 francs.
    Shares in Aluflexpack opened at 16.10 francs, an increase of
nearly 85%, before paring gains somewhat. 
    The board of directors of Aluflexpack, which listed in
mid-2019 at 21 francs per share, is recommending that
shareholders accept the offer, the Swiss firm said.

 (Reporting by Paul Arnold
Editing by Miranda Murray)
 ((dave.graham@thomsonreuters.com; Reuters Messaging:
dave.graham.thomsonreuters.com@reuters.net))