lactalis raise the price of the takeover bid up Parmalat. Sofil, the company of the French group carrying out the operation, announced in a note that it had increased from 2,80 to 3,00 € the consideration for each of the ordinary shares of Parmalat, already 87% owned by the French group.
The adjustment was made necessary by the opposition of some funds, above all Amber Capital, and by the hiccups of subscriptions to the offer. After the relaunch of Lactalis, Parmalat's stock started to run, recording increases of more than 5%, which bring the stock a few cents above the offer threshold.
An offer which, however, as stated in the note released by the French group, "incorporates a premium of approximately 16,2% compared to the official price of the Parmalat share recorded on December 23, 2016 (the trading day prior to the announcement of the Offer), equal to 2,582 euro, as well as 19,2% over the last month, 23% over three months, 25,7% over six months and 26,2% over twelve months”. With the new offer, to buy all the shares of the Collecchio company Lactalis would pay out 862 million euros.
It is now becoming more difficult to refuse the conditions offered by the French group, substantially in line with the target price set by analysts, who therefore advise accepting the offer.
