(CercleFinance.com) – Abeille Assurances Holding, which directly or indirectly holds 74.99% of the capital and voting rights of Union Financière de France Banque, announces its intention to file a draft simplified takeover bid in cash on UFF shares. The offer price is 21 euros per share.
The proposed price values 100% of the shares of UFF at 341 million euros and shows a premium of 51% compared to the last quoted price of the UFF share and a premium of 55% on the average price weighted by the volumes of UFF stock over the last 60 trading days.
At the end of the Offer, Abeille Assurances Holding intends to request the implementation of a squeeze-out targeting the UFF shares.