Eurobio Scientific: final takeover bid condition lifted

(CercleFinance.com) - Eurobio Scientific announced on Wednesday that it had lifted the last regulatory condition precedent to the proposed takeover bid initiated by EB Development.


The in vitro diagnostics specialist reports that the transaction has been authorized by the French Ministry of the Economy, Finance and Industry, under its control of foreign investment in France.

This decision completes the green light granted at the end of August by the European Commission, as well as the decision of the Italian Government under its control of foreign investment in Italy.

The opening of the offer is therefore no longer subject to any conditions precedent, but the proposed offer remains subject to review by the Autorité des marchés financiers.

In addition to the mandatory 50% threshold for the offer to lapse, as stipulated by the AMF, the offer will be subject to a waiver threshold enabling the offeror to withdraw its offer if less than 66.66% of the shares and voting rights are tendered.

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