CNP Assurances: Oddo recommends tender to offer

(CercleFinance.com) - Oddo BHF has changed its recommendation on CNP Assurances from "neutral" to "offer", referring to the public tender offer officially launched on Monday by La Banque Postale for the shares of the insurance company that it does not hold.


In line with the price of the cash offer, the broker is adjusting its target price from 21.9 euros to 20.9 euros, to take into account the detachment of the dividend of one euro per share, which was paid out last Friday.

Oddo points out that, at the end of the offer, La Banque Postale intends to request, if conditions are met, the implementation of a squeeze-out procedure, which could take place in mid-June.


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