Brief: ADNOC To Make Takeover Offer For Covestro At EUR 62.00 Per Share

Covestro AG

01/10/2024 07:47

Oct 1 (Reuters) - COVESTRO AG  1COV.DE :
    * COVESTRO SIGNS AN INVESTMENT AGREEMENT WITH ADNOC AND
SUPPORTS
THE PUBLIC TAKEOVER OFFER TO ALL COVESTRO SHAREHOLDERS
    * ADNOC TO MAKE TAKEOVER OFFER FOR COVESTRO AT EUR 62.00 PER
SHARE
    * TAKEOVER OFFER TO FOLLOW GERMAN SECURITIES ACQUISITION AND
TAKEOVER ACT
    * DECIDED TODAY THAT COMPANY'S SHARE CAPITAL SHALL BE
INCREASED BY
10% (18,900,000 SHARES) UPON COMPLETION OF TAKEOVER OFFER
    * SIGNS INVESTMENT AGREEMENT WITH ADNOC UNTIL 2028
    * TAKEOVER OFFER SUBJECT TO MINIMUM ACCEPTANCE RATE OF 50%
PLUS
ONE SHARE
    * HAS DECIDED TO NOT PROPOSE A DIVIDEND PAYMENT UNTIL
TRANSACTION
HAS BEEN COMPLETED
    * SUPPORTS BIDDER'S TAKEOVER OFFER
    * TO INCREASE SHARE CAPITAL BY 10% UPON TAKEOVER COMPLETION

Source text for Eikon:  ID:nEQ1jR3Kva 
Further company coverage:  1COV.DE 

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