By Sudouest.fr with AFP
The water and waste giant Veolia has managed to absorb its old rival Suez, in which it has held more than 86% of the capital since Friday evening, after a takeover bid and several months of battle
The Veolia group holds 86.22% of the capital of its rival Suez, at the end of a public tender offer closed Friday evening, January 7, according to a provisional result published by the Financial Markets Authority (AMF). The final result should be known “no later than January 10”.
Suez shareholders had until Friday evening to bring their shares to Veolia, which after 18 months of offensive, is preparing to take the keys to its rival and create a juggernaut of water and waste.
Reopening of the takeover bid
By reaching 90%, Veolia could claim a “squeeze-out” for the last securities that it does not yet hold. But below 90%, it is possible that he opts for a reopening of the takeover bid.
The offer was set at 20.50 euros per share, 19.85 euros with the withdrawal of the dividend paid.
“The company Veolia Environnement is able to hold 551,451,261 Suez shares representing as many voting rights, or 86.22% of the capital and voting rights of this company”, indicates the AMF.
“Veolia Environnement is thus in a position to hold more than 50% of the capital and voting rights of Suez following the offer, […] the offer initiated by the company Veolia Environnement therefore has a positive result, ”continues the Autorité des marchés financiers.