The paper and packaging firm Mondi is aiming to buy out the minority interest in its Polish operation Mondi Swiecie.
If the company can persuade all the outstanding shareholders to sell their stakes the deal will cost around €280m.
The all cash offer of €16.48 per share is being made at a premium of 15.6% over the average share price of the last three months.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The expected completion is mid-April but is dependent on Mondi achieving minimum acceptances of 14% of Mondi Swiecie shares (to bring the Mondi Group's total interest in the company to not less than 80%).
The plan would then be to de-list Mondi Swiecie from the Warsaw Stock Exchange, with the absorbed company adding 9.4% to Mondi Group's underlying earnings.
Mondi's stock was down 1.7% by 9.27am.
BS
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
