"Hitachi reiterates that it has not implemented any collusive practices in relation to the acquisition by Finmeccanica di Ansaldo Sts e ANSALDOBREDA and believes that it has acted in compliance with all applicable legal and regulatory provisions and, in all phases of the operation, with the utmost transparency towards the market and the Authority”. The Japanese group writes it in a note after yesterday evening Consob announced that it had revised the tender offer price upwards on the free float of Ansaldo Sts, bringing it from €9,50 to €9,899 per share. The Commission spoke of collusive conduct between the two groups in the operation with which Hitachi acquired Breda and 40% of Sts from Finmeccanica.
“Hitachi – continues the note – believes that the price of the offer has been determined in full compliance with the applicable legal and regulatory provisions. As indicated in the Offer document, compared to the weighted average price of the 12 months prior to the announcement of the acquisition of the stake held by Finmeccanica in Ansaldo Sts, the premium on the stock is approximately 22%. Hitachi reserves the right to evaluate the reasons for this decision by Consob and, with the help of legal advisors, the most appropriate initiatives to protect its rights, according to the methods and terms established by law”.
In short, the Japanese group is evaluating whether to resort to the TAR.
