Bolloré: bid terms raised for three subsidiaries
(CercleFinance.com) - Bolloré announced on Monday that it had increased the terms of its public buyout offers followed by compulsory buyouts filed last September for three of its subsidiaries.
The holding company of the Breton billionaire said in a press release that it would increase the price and the share exchange ratio for Universal Music Group (UMG) shares in its offers for Compagnie du Cambodge, Financière Moncey and Société Industrielle et Financière de l'Artois.
Concerning the offer for Compagnie du Cambodge, Bolloré will raise its offer to E110 per share, an increase of 18% on the initial price of 93 euros, while increasing the share exchange ratio to 4.69 UMG shares for one Compagnie du Cambodge share, compared with 4.07 initially.
For the offer on Financière Moncey, the cash portion will be raised to E133 per share, up 12.% on the initial price of E118, while the share exchange portion will be increased to 5.67 UMG shares for one Financière Moncey share, compared with 5.17 for the initial parity.
Finally, as regards Société Industrielle et Financière de l'Artois, Bolloré will now offer E10.627 per share, up 14% from the initial price of E9.300 euros.
The exchange leg will now be 453 UMG shares for one share held, compared with 407 previously.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The holding company of the Breton billionaire said in a press release that it would increase the price and the share exchange ratio for Universal Music Group (UMG) shares in its offers for Compagnie du Cambodge, Financière Moncey and Société Industrielle et Financière de l'Artois.
Concerning the offer for Compagnie du Cambodge, Bolloré will raise its offer to E110 per share, an increase of 18% on the initial price of 93 euros, while increasing the share exchange ratio to 4.69 UMG shares for one Compagnie du Cambodge share, compared with 4.07 initially.
For the offer on Financière Moncey, the cash portion will be raised to E133 per share, up 12.% on the initial price of E118, while the share exchange portion will be increased to 5.67 UMG shares for one Financière Moncey share, compared with 5.17 for the initial parity.
Finally, as regards Société Industrielle et Financière de l'Artois, Bolloré will now offer E10.627 per share, up 14% from the initial price of E9.300 euros.
The exchange leg will now be 453 UMG shares for one share held, compared with 407 previously.
Copyright (c) 2024 CercleFinance.com. All rights reserved.