Axens, the majority shareholder of Heurtey Petrochem holding to date 95.9% of the shares and 957% of the voting rights, has announced a draft squeeze out offer for Heurtey Petrochem's shares, shortly filed at a unitary price of 30 euros.
This offer follows logically the friendly takeover bid on Heurtey Petrochem shares, filed by Axens in October 2016 and closed the 27 January 2017.
The board of directors of Heurtey Petrochem will provide a reasoned opinion in accordance with the procedures provided for by the regulations in force. It will be supported by corporate finance specialist, ‘SORGEM Evaluation’, appointed as independent expert. The report of the independent expert and the reasoned opinion of the board of directors of Heurtey Petrochem will be published in the draft common note which will be jointly drawn up by Axens and Heurtey Petrochem and submitted to the French financial markets authority (AMF) for approval.
The trading of Heurtey Petrochem shares on the Euronext Growth market is suspended since the 4 May 2018.
Read the article online at: https://www.hydrocarbonengineering.com/special-reports/04062018/axens-files-draft-squeeze-out-offer-for-heurtey-petrochem/