Faurecia: launches takeover bid for Germany's Hella
(CercleFinance.com) - Faurecia has announced that that it has published the offer document for its voluntary takeover offer in cash for all of Hella shares, which is a leading player in lighting and automotive electronics that is based in Lippstadt, Germany.
The offer price is 60 euros per share in cash (60.96 euros including the expected dividend). The first offer period begins today and will close on 25 October at 24:00 CET, with a second offer period running from 29 October to 11 November at 24:00 CET.
Faurecia and Hella's merger will create the world's seventh largest automotive supplier. The completion of the offer is subject to the usual conditions precedent, but is not subject to reaching a minimum acceptance threshold.
For the record, Faurecia reached an agreement with the family pool and Hella in mid-August to acquire its 60% stake from the family pool at a price of 60 euros per share, paid in cash and Faurecia shares.
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The offer price is 60 euros per share in cash (60.96 euros including the expected dividend). The first offer period begins today and will close on 25 October at 24:00 CET, with a second offer period running from 29 October to 11 November at 24:00 CET.
Faurecia and Hella's merger will create the world's seventh largest automotive supplier. The completion of the offer is subject to the usual conditions precedent, but is not subject to reaching a minimum acceptance threshold.
For the record, Faurecia reached an agreement with the family pool and Hella in mid-August to acquire its 60% stake from the family pool at a price of 60 euros per share, paid in cash and Faurecia shares.
Copyright (c) 2021 CercleFinance.com. All rights reserved.