Metro: share jumps over 7% after EPGC tender offer
(CercleFinance.com) - The Metro share is up over 7% on Monday after an offer from EPGC.
Metro's Board of Directors has confirmed the offer from
EP Global Commerce (EPGC) to buy Metro's shares. The investment fund owned by the businessmen Patrik Tkac and Daniel Kretinsky is Metro's largest shareholder.
EPGC has said that it has made the offer is made to increase its investment in the group to above 30% to give them more flexibility in the future and without the obligation of making a mandatory takeover bid.
The offer is for 8.48 euros per Metro ordinary share and 8.87 euros per Metro preference share.
Metro's Board of Directors considers that the offer significantly undervalues the company. It recommends its shareholders not to tender their shares to the offer.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Metro's Board of Directors has confirmed the offer from
EP Global Commerce (EPGC) to buy Metro's shares. The investment fund owned by the businessmen Patrik Tkac and Daniel Kretinsky is Metro's largest shareholder.
EPGC has said that it has made the offer is made to increase its investment in the group to above 30% to give them more flexibility in the future and without the obligation of making a mandatory takeover bid.
The offer is for 8.48 euros per Metro ordinary share and 8.87 euros per Metro preference share.
Metro's Board of Directors considers that the offer significantly undervalues the company. It recommends its shareholders not to tender their shares to the offer.
Copyright (c) 2020 CercleFinance.com. All rights reserved.