Brief: Believe’s Board Of Directors Issues Favorable Opinion Of Consortium's Takeover Offer

Believe SA

19/04/2024 07:09

April 19 (Reuters) - Believe SA  BLV.PA :
    * REG-FAVORABLE REASONED OPINION  OF BELIEVE’S BOARD OF
DIRECTORS
    * ON FEB 11 CONSORTIUM FORMED BY FUNDS MANAGED BY TCV AND
EQT X,
TOGETHER WITH DENIS LADEGAILLERIE, CHAIRMAN AND CEO OF BELIEVE
MADE OFFER TO COMPANY TO ACQUIRE ALL BELIEVE’S OUTSTANDING
SHARES
    * BOARD OF DIRECTORS RENDERED, WITH A UNANIMOUS VOTE FROM
ITS
MEMBERS PRESENT OR REPRESENTED, A FAVORABLE REASONED OPINION ON
OFFER
    * BOARD OF DIRECTORS CONSIDERED THAT OFFER IS IN INTERESTS
OF
MINORITY SHAREHOLDERS
    * IT CONSIDERED THAT OFFER IS IN INTEREST OF COMPANY AND ITS
EMPLOYEES, ENABLING COMPANY TO BENEFIT FROM SUPPORT OF MAJOR
SHAREHOLDERS
    * OFFER ENABLING MINORITY SHAREHOLDERS TO BENEFIT FROM
IMMEDIATE
AND FULL LIQUIDITY AT A SIGNIFICANT PREMIUM OVER RELEVANT STOCK
PRICE
    * AD-HOC COMMITTEE NOTED THAT OFFER IS IN LINE WITH
COMPANY'S
STRATEGY AND SHOULD HAVE NO PARTICULAR IMPACT ON EMPLOYMENT.
    * WHILE OFFER PRICE FALLS WITHIN RANGE OF INDEPENDENT
EXPERT'S
INTRINSIC DISCOUNTED CASH FLOW ANALYSIS (BETWEEN EUR 13 AND EUR
20.20), IT REPRESENTS A DISCOUNT OF 12.8% TO CENTRAL VALUE
    * CITIGROUP GLOBAL MARKETS EUROPE AG ("CITI"), ACTING AS
FINANCIAL
ADVISER TO COMPANY, CONFIRMED TO BOARD OF DIRECTORS THAT OFFER
PRICE IS FAIR
    * CONSORTIUM HAS CONFIRMED THAT ALL CONDITIONS PRECEDENT OF
BLOCK
ACQUISITIONS HAVE NOW BEEN DEFINITIVELY FULFILLED
    * CONSORTIUM WILL THEREFORE FILE ITS OFFER IN COMING DAYS

Source text for Eikon:  ID:nGNE1gBt2w 
Further company coverage:  BLV.PA 

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