French aeronautics group Latecoere to examine Searchlight's bid offer

Latecoere SA

01/07/2019 06:26

PARIS, July 1 (Reuters) - French aeronautics company
Latecoere  LAEP.PA  said on Monday it would examine a takeover
offer worth about 365 million euros ($414 million) by investment
company Searchlight Capital.
    Searchlight Capital, which already owns about 26% of
Latecoere's share capital, made an offer of 3.85 euros per share
on June 28, representing a premium of 34% to Latecoere's closing
price on Friday.
    Latecoere said it would appoint an independent expert and
consult employees' representative committee to examine the
offer.
    "The board of directors of the company will issue its
reasoned opinion after the issuance of the report of the
independent expert and the opinion of the employees'
representative bodies," Latecoere added on Monday.
    
    ($1 = 0.8824 euros)

 (Reporting by Sudip Kar-Gupta, Editing by Sherry
Jacob-Phillips)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))