Ercros jumps after Bondalti launches takeover bid
05/03/2024 08:59
** Shares in Ercros ECR.MC jump 33% after Portuguese
industrial group Bondalti launched a takeover bid worth 329
million euros ($357 million) for all shares of the Spanish
chemical company
** The offer was made at 3.6 euros per Ercros share,
representing a premium of 40.6% over Monday's closing market
price
** Bondalti said its goal was to delist Ercros shares
** Shares of Ercros rise to their highest level since May
2023; if gains hold they will see their best day ever
(Reporting by Joao Manuel Mauricio)
((JoaoManuel.VicenteMauricio@thomsonreuters.com))