(CercleFinance.com) – Keyrus posted by far the highest rise in the Parisian market on Wednesday following the announcement of a proposed simplified takeover bid targeting the shares of the consulting and technology group.
According to an investment protocol concluded between Eric Cohen – the CEO and founder of the company – certain managers and BNP Paribas, this proposed takeover bid, which appears at a price of seven euros per share, could possibly be followed by a mandatory withdrawal.
This group currently holds 10,687,767 shares and 20,855,751 voting rights, i.e. 61.9% of the capital and 75.6% of the voting rights.
The offer results in a premium of almost 59% over the Keyrus share price at market close on Monday June 5, the last trading day before the announcement of the operation.
It will target all Keyrus shares not held by the initiators, excluding the 1,379,626 treasury shares, ie around 8% of the capital and 5% of the voting rights.
In the event that the threshold of 90% of the capital and voting rights is crossed at the end of the takeover bid, the implementation of a squeeze-out procedure would be requested at the same price as the offer, i.e. seven euro per share.
Suspended yesterday, the Keyrus share climbed 55% on Wednesday, without however fully aligning with the offer price.