Latecoere: Best day in 25 years on Searchlight's takeover offer

Latecoere SA

01/07/2019 08:23

** Shares in French Boeing and Airbus supplier Latecoere
 LAEP.PA  jump 33% pct and are set for their best day since
beginning 1994
    ** Investment firm Searchlight Capital intends to file
friendly takeover bid for Latecoere at EUR 3.85 per share, i.e.
at a premium of 34% to Friday's closing price  urn:newsml:reuters.com:*:nASB01RRV
    ** Latecoere will examine the offer worth about EUR 365 mln 
($414 mln)  urn:newsml:reuters.com:*:nL8N2420L4
    ** Searchlight currently holds a 26% stake in Latecoere,
which it acquired in April  urn:newsml:reuters.com:*:nL8N21K0JO
    ** "This offer is not really a surprise to us, but the
stock's recent evolution shows the investors were indifferent to
the arrival of this new shareholder in April," Midcap Partners
says  
    ** The brokerage is however not too pleased with the offer,
despite a considerable premium, saying it integrates to a very
small extent the group's strong mid-term recovery potential and
its position on the market


($1 = 0.8827 euros)

 ((piotr.lipinski@tr.com))