Xavier Niel launches his € 3 billion takeover bid on Free

Xavier Niel launches his € 3 billion takeover bid on Free
Xavier Niel launches his € 3 billion takeover bid on Free

Posted on Sep 9, 2021 at 4:49 PMUpdated Sep 9, 2021, 5:32 PM

It’s the big day for Xavier Niel. Announced this summer, the takeover offer – which should allow the CEO-founder ofIliad to buy the rest of his group and then withdraw it from the stock market – started this Thursday. The businessman has twelve working days, ie until September 24, to convince the shareholders to bring their shares. In total, the operation could cost him around 3.1 billion euros.

The case is almost folded. First, because Xavier Niel is proposing to buy back the shares at a price of 182 euros per share, ie a premium… of 61% compared to the closing price on July 29, the day before the announcement of the offer. Then because the boss of Free had reserved the right to buy back shares at the price of the offer even before the kickoff on Thursday, within the limits however imposed by the Financial Markets Authority (AMF).

Source

Xavier Niel launches billion takeover bid Free

 
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