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BRIEF-Polar Bidco launches a voluntary recommended public tender offer for all shares in Sponda
June 5, 2017 / 6:17 AM / 3 months ago

BRIEF-Polar Bidco launches a voluntary recommended public tender offer for all shares in Sponda

June 5 (Reuters) - SPONDA OYJ:

* REG-POLAR BIDCO S.À R.L. LAUNCHES A VOLUNTARY RECOMMENDED PUBLIC TENDER OFFER FOR ALL SHARES IN SPONDA PLC

* SPONDA OYJ - SPONDA SHAREHOLDERS WILL BE OFFERED A CASH CONSIDERATION OF EUR 5.19 FOR EACH SHARE IN SPONDA REPRESENTING AN AGGREGATE EQUITY PURCHASE PRICE OF ABOUT EUR 1,763 MILLION FOR SPONDA SHARES

* OFFER PRICE IS EUR 5.19 IN CASH FOR EACH SHARE IN SPONDA

* UNDER COMBINATION AGREEMENT, SPONDA HAS RIGHT TO DISTRIBUTE A DIVIDEND OF A MAXIMUM OF EUR 0.12 PER SHARE BEFORE COMPLETION OF TENDER OFFER

* BOARD OF DIRECTORS OF SPONDA HAS UNANIMOUSLY DECIDED TO RECOMMEND TO SHAREHOLDERS OF SPONDA TO ACCEPT TENDER OFFER

* OFFER PRICE WILL BE ADJUSTED DOWNWARDS ON A EURO-FOR-EURO BASIS IF ANY SUCH DIVIDEND WERE TO BE DISTRIBUTED

* SPONDA OYJ - SHOULD MAXIMUM DIVIDEND OF EUR 0.12 PER SHARE PERMITTED UNDER COMBINATION AGREEMENT BE DISTRIBUTED, OFFER PRICE WOULD BE ADJUSTED TO EUR 5.07 IN CASH ON RECORD DATE OF DIVIDEND PAYMENT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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