Total has announced its intention to launch a 950 million euro tender offer to acquire Saft, a French multinational in the battery sector. The offer, unanimously approved by Saft's supervisory board, values the group's shares at the unit price of 36,50 euros, against 26,40 euros at Friday's closing.
“I think it's a reasonable offer – said the number one of Total Patrick Pouyanné – and the industrial project that we will present should convince the shareholders as it convinced the supervisory board”.
The takeover bid should be launched at the beginning of June, after the go-ahead from the Financial Market Supervisory Authority (Amf).
