The shares are on the rise Atlantia lining up al price of the takeover bid ahead of extra time starting next Monday.
The takeover bid of Edition-Blackstone, launched through the vehicle Schema Alfa, on Friday it had reached 87,3% of the capital of Atlantia, which added to 0,84% of the holding's treasury shares brings the total to over 88%.
The bidder had stared as minimum threshold for the effectiveness of the operation the achievement of 90% of the capital of Atlantia. However, after counting the membership, he waived that condition and has reopened the offer for five sessions, from the 21 to the November 25: extra time should allow big funds and some hedge funds to enter ea Edition e Blackstone, promoters of the Offer, to further increase the share package in the infrastructural group by triggering the delisting procedures envisaged by the TUF. This morning Atlantia shares returned to the price of 23 euros, equal to the price of the tender offer with an increase of 1,16%
Reopening of the Atlantia takeover bid: the next move will be the delisting
According to the timetable defined, the consideration will be paid on 18 November to those who adhere to the offer within the original deadline, while those who adhere in the next phase will receive the consideration on 2 December. If, even after the further offer phase, the threshold for proceeding with the delisted, the two partners, to which will be added Crt Foundation who will reinvest in the group after joining the takeover bid with its share package, will be able to withdraw the shares from the Stock Exchange through a merger of Atlantia with the offering vehiclesubject to approval by the respective assemblies. As stated in the offer document, Atlantia as a non-listed company will benefit from the streamlining of decision-making and operational processes and will aim to accelerate its investment and value creation strategy.
