This Tuesday, the Argos Group reported that it will not participate in the new Public Acquisition Offers (OPAs) for Sura and Nutresa, launched by the Gilinski Group.
“The prices offered are lower than the fundamental value of the two companies according to the technical and strategic analyzes presented by JP Morgan, among other considerations, evaluated in the Board of Directors session of the last two days”, was the reason that Argos gave following the decision.
In a statement, the conglomerate expressed that it will continue “accompanying Grupo Sura and Grupo Nutresa to materialize the initiatives announced by these companies aimed at maximizing value for all shareholders, among which the linking of strategic partners stands out.”
Its regarding second “no” from the Antioquian company to the conglomerate led by Jaime Gilinskibecause in the first takeover bids launched by Sura and Nutresa it had also considered the price offered to be low and declined both proposals.
In this regard, it is worth mentioning that in the first takeover bids Gilinski acquired 25.42% of the common shares of Sura, paying a price of 8.01 dollars for each one.
Meanwhile, in Nutresa it obtained 27.68% of the titles at a rate of US$7.71 each.
Not content with this, it launched two new offers, whose acceptance period will last until February 28 next.
this time seeks between 5% and 6.25% more in Sura (and offers US$9.88 per share), and between 18.3% and 22.8% more in Nutresa (paying US$10.48 per share).
Now they are waiting for the decisions that the other companies of the so-called Antioquia Business Group (GEA) will take regarding the proposal.