The RCS Board of Directors judges Andrea Bonomi's offer better than that of Urbano Cairo. The BoD has examined the financier's tender offer on a preliminary basis and found that the price of 0,70 euro offered is a "premium" on the stock market prices for the last 3, 6 and 12 months from the date of the announcement. The BoD also states that the Ops communicated by Urbano Cairo on 8 April is at a premium on 3 and 6 months, while it is at a discount on 12 months.
Supporting Bonomi in the takeover bid are the historical partners of RCS, who together represent almost all the members of the board. The board of directors, however, underlined that Bonomi's takeover bid was neither agreed upon nor previously communicated to the company.
"The Board - continues the note - maintains its objective of creating value for RCS MediaGroup in the best interests of all shareholders, not neglecting any strategic options". In fact, however, the support of the board goes to the purchase offer presented by Investindustrial with Della Valle, UnipolSai, Mediobanca and Pirelli.
Compared to a year ago, Fiat has left the list of majority shareholders and, as part of the merger of its publishing activities with the Espresso Group, has announced the pro-rata assignment to shareholders of its 16% stake. in recent days Exor has started the sale of its 5%. Intesa Sanpaolo also paraded, supporting Cairo in its takeover attempt, while UnipolSai entered, which has a share of the RCS capital (4,6%) higher than that of Ca de Sass (4,2%).
Before 8 April, the analysts' target price for RCS shares stood at 0,81 euro per share. Today in the middle of the day, the Rcs share on the Stock Exchange lost 0,34%, to 0,7255 euros.
Finally, RCS announces that it has appointed Roberto Tasca as independent expert to evaluate the Cairo public offer and Bonomi's public offer. Tasca is full professor of Economics of financial intermediaries at the University of Bologna.
