Exmar rises, analysts point to speculation on Saverex potentially sweetening bid

EXMAR NV

14/07/2023 09:16

** Exmar  EXMR.BR  shares rise 2.6% after the Belgian
company announced on Thursday the results of the initial
acceptance period of Saverex' bid targeting its shares
    ** Following the bid, Saverex, the holding company of the
family of Nicolas Saverys, and its affiliates hold together
77.76% of Exmar shares
    ** Saverex did not get the needed support from the
shareholders, but has decided to waive the 95% acceptance
threshold and proceed with the bid
    ** It will voluntarily reopen the bid in late August
    ** "It might be that 95% will still not be reached, we
think, but 90% is already enough to start a simplified squeeze
out, resulting in delisting", ING says in a note
    **" Now people are just speculating whether Saverex will be
willing to increase their bid to get the entire company", Kepler
Cheuvreux analyst Andreas Nygard says 
    **He points out the market now expects the potential new bid
will come at a price above the previous bid
    ** "It seems quite likely that we'll now have Saverex going
for the entire company", he adds
    ** The shares trade at 11.22 euros per share, slightly above
the current bid of 11.10 euros per share 

 (Reporting by Laura Lenkiewicz)
 ((Laura.lenkiewicz@thomsonreuters.com))