Unilever: cash offer for preference shares starts tomorrow.
(CercleFinance.com) - Unilever says it has launched a cash offer for the preference shares in its capital, in a step towards simplifying the group's complex structure.
The Anglo-Dutch consumer goods giant said that the acceptance period for the offer will start tomorrow and will run through to 25 October.
After two major shareholders committed to tender their preferance shares, the interests held by Unilever will represent at least 97% of the outstanding preference shares, the company said.
Unilever will then begin statutory buy-out proceedings in order to acquire any remaining shares and terminate the listing of the preference shares on Euronext Amsterdam.
In August Unilever said the offer would represent an important step towards simplification of its capital structure and improving corporate governance.
In addition, Unilever plans to review its dual-headed (NV in the Netherlands and PLC in the UK) legal structure, a process the group expects to complete by end of the year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Anglo-Dutch consumer goods giant said that the acceptance period for the offer will start tomorrow and will run through to 25 October.
After two major shareholders committed to tender their preferance shares, the interests held by Unilever will represent at least 97% of the outstanding preference shares, the company said.
Unilever will then begin statutory buy-out proceedings in order to acquire any remaining shares and terminate the listing of the preference shares on Euronext Amsterdam.
In August Unilever said the offer would represent an important step towards simplification of its capital structure and improving corporate governance.
In addition, Unilever plans to review its dual-headed (NV in the Netherlands and PLC in the UK) legal structure, a process the group expects to complete by end of the year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.