Il Board of Edison rejects the mandatory and totalitarian takeover bid launched by the parent company Transalpina di Energia, which however goes ahead. The advisers did not reach a majority when it came to voting on the "fairness of the offer price" – reads a note – set at 0,89 euro per ordinary share.
The directors Lescoeur, Bigois, d'Onghia, Jami, Mathias, Mora and Verdier-Naves abstained from voting to avoid raising suspicions about a possible interest on behalf of Edf and Transalpina di Energia, "given their relations with such subjects".
The other directors, all independent, should therefore have expressed themselves unanimously: Gitti e Gros-Pietro, taking into account the fairness opinions given to them by Goldman Sachs and Rothschild, considered the offer price to be fair, while Coconuts he said the opposite.
In any case, the fact that the BoD did not reach the majority to express itself on the adequacy of the offer price "does not hinder the execution of the offer".
