M6 rises on the stock market after takeover bids | Photo credits: M6 Group
September 26 (Reuters) – M6 rose on the Paris Stock Exchange on Monday morning, taking advantage of press reports relating to takeover bids for Bertelsmann, RTL’s parent company, in the television group.
Businessman Stéphane Courbit and his financial partners offered 20 euros per share, Bloomberg reported on Sunday, an offer representing a premium of 39% compared to the closing price of M6 shares on Friday.
The M6 title gained 4% to 15 euros at 9:30 a.m., among the largest increases in the SBF 120 index.
Reuters reported last week that a consortium comprising Stephane Courbit, CMA CGM CEO Rodolphe Saadé and businessman Marc Ladreit de Lacharrière was in pole position to take over the 48% stake in M6.
The Italian television group MediaForEurope has also teamed up with Xavier Niel, the founder of Iliad, to submit a non-binding takeover offer. (Writing by Valentine Baldassari, editing by Kate Entringer)