Bricorama offers 15 euros per share to buy Mr Bricolage (updated)

Bourrelier SA

11/09/2015 12:29

(recasts with confirmation of Bricorama approach) 
    PARIS, Sept 11 (Reuters) - French Do-It-Yourself chain 
Bricorama  ALBRI.PA  said it had made an approach to take over 
French rival Mr Bricolage  MBRI.PA  with a 15 euros per share 
offer, valuing the company at around 155 million euros ($175 
million).  
     The move announced on Friday comes six months after 
Kingfisher  KGF.L , Europe's largest home-improvement retailer, 
ditched a planned  purchase of Mr Bricolage amid concerns over 
the number of store closures that would have been required to 
clear antitrust hurdles. ID:nL6N0WW12Q  
    Bricorama said in a statement that on Sept 1 it had 
approached ANPF, which holds 41.9 percent of Mr Bricolage, and 
the founding Tabur family, which holds 26.2 percent of it, to 
combine the two groups and create a key player on the French DIY 
market. 
    It added that it got no feedback from the rival yet. 
    Bricorama's 15 euros per share offer matches the 15 euros  
Kingfisher had offered ANPF and the Tabur family to buy their 
holdings.  
    By 1125 GMT Mr Bricolage shares were up 12 percent at 14 
euros. 
 ($1 = 0.8880 euros) 
 
 (Reporting by Dominique Vidalon; Editing by Mark Potter) 
 ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters 
Messaging: dominique.vidalon.reuters.com@reuters.net)) 
 
Keywords: BRICOLAGE M&A/BRICORAMA