Schneider Electric: starts takeover of RIB Software
(CercleFinance.com) - Schneider Electric has announced the publication of the offer document relating to its voluntary takeover bid on all of RIB Software's outstanding shares, after obtaining approval from the German financial market supervisor.
From this Friday, RIB shareholders may tender their shares for 29 euros each, representing a premium of 40.6% over the closing price on 12 February. The acceptance period will end at midnight (CET) on 22 April.
The takeover bid is subject to reaching a minimum acceptance threshold of 50%, plus one share, along with obtaining regulatory approvals. Subject to these conditions, the transaction is expected to close towards the end of Q2 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
From this Friday, RIB shareholders may tender their shares for 29 euros each, representing a premium of 40.6% over the closing price on 12 February. The acceptance period will end at midnight (CET) on 22 April.
The takeover bid is subject to reaching a minimum acceptance threshold of 50%, plus one share, along with obtaining regulatory approvals. Subject to these conditions, the transaction is expected to close towards the end of Q2 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.