A selection of 4 companies for future takeover bids (© DR, EDF / G. Lemarchal, cc Big_mattua, Albioma)
Despite an unfavorable market context, public offers have remained numerous since the beginning of the year, particularly in small and medium caps, most often with generous bonuses for minority shareholders. Le Revenu has retained a selection of companies of all sizes likely to be the subject of a takeover bid in the short or medium term.
One would have thought that the downturn in the financial markets since the beginning of January once morest a background of war in Ukraine, galloping inflation, financing difficulties and the sudden rise in interest rates might have slowed down public takeover bids (OPA ). In the end, this is not the case since these financial transactions continued at a sustained pace during the first eight months of 2022.
In line with recent years, the period saw a relatively high number of takeover bids, with 24 transactions identified, most already filed with the Autorité des marchés financiers (AMF), the rest being only announced (Cast, CS Group, EDF, Nextstage, OL Group, etc.).
It should be noted, however, that 2021 had been an exceptional vintage with 30 takeover bids filed, i.e. eight more than in 2020. Since the health crisis triggered in March 2020, the markets had experienced a sharp acceleration in takeover bids in a buoyant context linked to low levels of valuation.
Another point to note is the virtual absence of large stocks being offered this year, except in the cases of Albioma and EDF. Small and mid-caps are therefore always fertile ground for this type of transaction.
Attractive bonuses
Takeover bids also remain an interesting stock market theme to play for a shareholder.