Financial, market and economic news

Opening of the simplified public tender offer initiated by ASSA ABLOY for the remaining outstanding shares of agta record

STOCKHOLM, Sept. 17, 2020 /PRNewswire/ — The simplified public tender offer launched by ASSA ABLOY on the remaining shares of agta record ag (“agta record”) at the price of 70.58 EUR per share (the “Offer”) opens today for a period of ten trading days. The Offer will be followed by the delisting of the agta record shares from Euronext Paris.

The French Financial Market Authority (Autorité des marchés financiers (“AMF”)) has announced that the simplified public tender offer initiated by ASSA ABLOY, via its fully owned subsidiary ASSA ABLOY Euro Holding AB, for the purchase of all of the remaining outstanding shares of agta record, not yet held directly or indirectly by ASSA ABLOY, i.e., 716,153 shares representing 5.37% of the share capital and voting rights of agta record[1] (the “Offer”), opens today for a period of 10 trading days.

On 15 September 2020, the AMF issued its clearance to the Offer. The Offer will be open from 17 September 2020 until 30 September 2020 (included) at a price of 70.58 EUR per agta record share. This price corresponds to the adjusted[2] purchase price paid by ASSA ABLOY for the acquisition of a controlling block of 54% of the share capital and voting rights of agta record. This acquisition was announced on 6 March 2019 and completed on 20 August 2020.

The Offer will be followed by the delisting from the Euronext Paris stock exchange of the agta record shares shortly following the publication of the results of the Offer[3] (the “Delisting”).

No squeeze-out procedure, or equivalent procedure, exists under French securities laws or Swiss securities laws applicable to agta record. Therefore, no such procedure will be implemented following the closing of the Offer.

The Board of Directors of agta record, on the basis of the report prepared by the independent expert, has unanimously decided that the Offer was in the interest of agta record, its employees and shareholders and recommended the shareholders to tender their agta record shares in the Offer.

In accordance with …

Full story available on Benzinga.com

Read More

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

Privacy & Cookies Policy