2023-09-08 05:59:03
Zurich (awp) – The German chemical company Altana will begin on September 25 via its subsidiary Elantas its takeover bid (OPA) for the entire share capital of the Zurich industrialist Von Roll, at a price of 86 centimes per share in species.
The offer period will end on October 27 and the transaction is expected to close in November, subject to customary regulatory approvals, according to the prospectus published on Friday. Between the announcement of the operation on August 11 and September 6, Elantas has already acquired 11.2 million shares, or 3.13% of the outstanding share capital.
The Altana subsidiary has already signed an agreement with the von Finck family for the acquisition of 82.57% of Von Roll. Once the transaction is completed, the purchaser, who will then hold 87.44% of the voting rights, intends to launch a squeeze-out procedure on the remaining shares, following which the Von Roll share will be withdrawn from listing on the Swiss Stock Exchange.
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