Rothschild & Co.: confirms Concordia's proposed offer

(CercleFinance.com) - Rothschild & Co.
has announced that its Supervisory Board has taken note of the confirmation of Concordia, Rothschild & Co's main shareholder (approximately 39% of the capital), intention to file a simplified tender offer for approximately 40% of Rothschild & Co's capital at a price of 48.0 euros per share (cum dividend), with a view to requesting the implementation of a squeeze-out.

Prior to the filing of the proposed offer, Rothschild & Co will propose to its shareholders, at the annual general meeting to be held on 25 May 2023, the payment of an ordinary dividend of 1.4 euro per share.

Rothschild & Co also intends to propose, subject to the approval of the Supervisory Board of Rothschild & Co, an exceptional distribution of reserves of 8.0 euros per share. This exceptional distribution would be conditional upon Concordia's final decision to file the offer. The announced offer price would be reduced by the amount of both these distributions.

This transaction, to create a fully private group, is in line with Concordia's strategy to hold the majority of the capital and voting rights of Rothschild & Co.


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