Dutch company Wessanen confirms takeover Talks
24 March 2019
Wessanen has confirmed that it has entered into talks regarding a potential takeover bid for the company.
The food producer said it had received an initial expression of interest in February 2019 from a consortium of funds managed/advised by PAI Partners and entities controlled by investor Charlie Jobson (who has a nearly 26% stake in Wessanen).
Wessanen said its Supervisory and Executive boards turned down the initial potential offer, but has now received a proposal for an offer of €11.50 (cum dividend) per share, which it said offered a significant premium to justify “engaging with the Consortium to explore the feasibility and merits of the Potential Transaction.”
Wessanen noted that due diligence is now taking place, with both sides exploring the terms of a merger protocol. However, it warned that there is no guarantee that any deal will result following the talks.
Published by KamCity on March 15, 2019
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