Clasquin: proposed takeover, share price soars

(CercleFinance.com) - The shipping and logistics group MSC has proposed that Clasquin acquire the 42% stake held by its Chairman Yves Revol, paving the way for a takeover bid for the remaining capital.


Yves Revol and his company Olymp, the controlling shareholders of Clasquin, have entered into exclusive negotiations with SAS, a subsidiary of MSC, with a view to the sale of all their shares representing 42% of the share capital.

Following the acquisition of the shareholdings, SAS would file a takeover bid for the remaining shares in Clasquin with the Autorité des Marchés Financiers (AMF).

Listed on the Paris stock exchange, shares in the Clasquin group, which specializes in air and sea transport engineering, soared by more than 51% following this announcement.

According to Clasquin, the purchase price of the shares would be determined on the basis of an enterprise value of 325 million euros, after taking into account adjustments to be agreed between the parties.

Barring major adjustments, the offer should generate a very substantial premium, with current capitalization standing at 204 million euros", commented analysts at Invest Securities.

In a reaction note, analysts at Oddo BHF indicate that they have raised their price target on the stock from 95 to 134 euros in the wake of this information.

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