Verallia shares drop as Moreira Salles family takes time for takeover bid

Verallia SA

03/02/2025 08:44

** Shares in France's Verallia  VRLA.PA  fall more than 10%
after Brazil's Moreira Salles family office confirmed its
interest in buying all remaining shares of the glass packaging
producer but did not make a formal offer, an analyst says
    ** BW Gestao de Investimentos (BWGI), owned by the Moreira
Salles holding company Brasil Warrant Administracao de Bens e
Empresas, says a further assessment will follow Verallia's FY
results on Feb. 19
    ** It expects to offer 30 euros per share
    ** The market's reading is that BWGI is giving itself some
potential reasons not to make an offer, it will make a less
exciting offer or not take the whole company private, says an
analyst who asked not to be named
    ** Rumours about the potential takeover sent the stock more
than 11% higher on Friday
    ** By 0833, the Paris-listed stock pares some losses and is
down 5.3% at 28.2 euros, underperforming France's SBF 120 index
 .SBF120  which is down 1.7%

 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))