Ontex: rejects proposed buyout by PAI Partners
(CercleFinance.com) - Confirming speculation in the press, Ontex Group says that it has received an unsolicited and non-binding proposal from PAI Partners SAS for a potential bid for its outstanding shares.
However, after reviewing this proposal, the group's Board of Directors has unanimously rejected the offer, considering that it significantly undervalues the Belgian manufacturer of hygiene products.
Ontex's board of directors confirms its full confidence in the strategy implemented by its management team to bring long-term value to Ontex shareholders, it continued.
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However, after reviewing this proposal, the group's Board of Directors has unanimously rejected the offer, considering that it significantly undervalues the Belgian manufacturer of hygiene products.
Ontex's board of directors confirms its full confidence in the strategy implemented by its management team to bring long-term value to Ontex shareholders, it continued.
Copyright (c) 2018 CercleFinance.com. All rights reserved.