(Boursier.com) — The Board of Directors of Manutan met on October 25. It took note of the proposed simplified takeover bid initiated by the Guichard family group, followed if necessary by a squeeze-out, targeting the company’s shares at a price of 100 euros per share, together with an additional price of 5 euros per share in the event that the Guichard family group, at the end of the offer, reaches the threshold for implementing the compulsory withdrawal of 90% of the company’s capital and voting rights.
The offer should soon be filed with the Autorité des marchés financiers (AMF) by the company Spring Holding, which was set up by the Guichard family group and which currently holds 64.92% of the capital and 62. 72% of the company’s voting rights, after having been the subject, today, of several contribution and transfer operations by the members of the family group.
As a result of these operations, the Guichard family group (directly and indirectly via Spring) together still holds 73.28% of the capital and 74.06% of the theoretical voting rights of Manutan International. All transactions were carried out at a price of €100 per Manutan share.
The Board of Directors took note of the friendly nature of this offer, which will target all of the company’s shares not held by the Guichard family group (excluding treasury shares held by the company), i.e. approximately 26, 5% of the capital and 25.7% of the theoretical voting rights of the company. Manutan’s Board of Directors will meet again to issue a reasoned opinion on the offer after having reviewed the report of the independent expert and the recommendation of the ad hoc committee. This reasoned opinion, as well as the independent expert’s report, will be made public in the context of the draft response document, the filing of which with the AMF will be the subject of a press release from the company.
It should be noted that the Guichard family group is made up of Mr. Jean-Pierre Guichard, Mrs. Claudine Guichard, Mr. Xavier Guichard and their family holding company (Mouvement et Finance).
The Manutan share is currently suspended at a price of 66.2 euros per share.
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