Exmar slumps after Saverex keeps takeover bid price

EXMAR NV

25/08/2023 08:40

** Shares in Exmar  EXMR.BR  are down 7.7% after the Belgian
LNG operator announced the opening of a second acceptance period
for Saverex's takeover bid on all of the group's shares
    ** Saverex maintained its offer price at 11.10 euros per
share, even though shares had traded at a higher level since the
end of the initial acceptance period, saying that the stock
price increase is the result of speculation
    ** Following the initial acceptance period, Saverex and its
affiliates now own 77.76%
    ** "External shareholders will struggle finding a higher bid
than the Saverex offer," ING says, addint that it is due to the
absence of a larger shareholder and the management's resolute in
pursuing the transaction
    ** Stock is on track for its worst day in 10 months


($1 = 0.9270 euros)

 (Reporting by Victor Goury-Laffont)
 ((Victor.goury-laffont@tr.com))