Equity
Hungarian markets watchdog green-lights Servier buyout offer for Egis
The commencement date of the acceptance period, during which the Offer can be accepted, is October 2, 2013 and the closing date is November 5, 2013.
Servier, the 51% owner of Egis, made a purchase offer for all outstanding Egis shares at HUF 28,000 per share on 24 September.
The French owner wants to become the sole owner of the company and delist it from the Budapest Stock Exchange.
The HUF 28,000 per share offer values the total market capitalisation of Egis at HUF 218 billion. The 49% package (all outstanding shares) is worth almost HUF 107 billion.
Egis shares gained nearly 30% last week. On Monday, before the announcement was made, it the paper was trading at HUF 21,050 and it closed at HUF 27,500 on Friday.
Servier, the 51% owner of Egis, made a purchase offer for all outstanding Egis shares at HUF 28,000 per share on 24 September.
The French owner wants to become the sole owner of the company and delist it from the Budapest Stock Exchange.
The HUF 28,000 per share offer values the total market capitalisation of Egis at HUF 218 billion. The 49% package (all outstanding shares) is worth almost HUF 107 billion.
Egis shares gained nearly 30% last week. On Monday, before the announcement was made, it the paper was trading at HUF 21,050 and it closed at HUF 27,500 on Friday.
