Jefferies cuts Argan to 'hold' after takeover bid

Argan SA

03/08/2026 08:12

** Jefferies moves French real estate logistics company Argan to "hold" from "buy," following a takeover offer from WDP WDPP.BR  
** In its view, the offer appears fair and leaves limited scope for a higher competing bid 
** Broker calculates WDP's offer implies value of €79.22 per share, representing a premium of about 21% to Argan's closing price before the deal was announced
** "For Argan shareholders, the 21% premium is attractive, and they are also exchanging a French logistics play for a larger pan-European company with a better portfolio," Jefferies says
** Out of six analysts that cover Argan, two rate the stock "strong buy" or "buy" and ​four rate it "hold" - LSEG data
     
     

(Reporting by Jakob Van Calster)
((jakob.vancalster@thomsonreuters.com))