Brief: Esseco Industrial Launches Competing Takeover Bid For Ercros At 3.84 Eur/Shr

Ercros SA

28/06/2024 06:09

June 28 (Reuters) - Esseco Industrial: 
    * RESOLVED TO LAUNCH A VOLUNTARY, COMPETING PUBLIC TENDER OFFER FOR ALL SHARES OF ERCROS
 ECR.MC 
    * OFFER PRICE FOR 3.84 EUROS PER SHARE
    * MAXIMUM TOTAL AMOUNT TO BE PAID BY BIDDER AMOUNTS TO EUR 351.1 MILLION EUROS TO PAID IN
FULL IN
CASH
    * OFFER PRICE REPRESENTS A PREMIUM OF 9.4% OVER CLOSING PRICE OF ERCROS’ SHARES AS OF MARKET
CLOSE
ON JUNE 26
    * OFFER PRICE REPRESENTS A PREMIUM OF 6.7% OVER PRICE OF INITIAL OFFER

Source text for Eikon:  ID:nCNMNh623   urn:newsml:reuters.com:*:nFWN3FI342
Further company coverage:  ECR.MC 

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