February 21, 2018 / 11:53 AM / 6 months ago

Atlantia shareholders approve tweaks to Abertis offer

ROME, Feb 21 (Reuters) - Shareholders in Atlantia approved on Wednesday extending to Nov. 30 a deadline for the launch of a cash call linked to the Italian motorway group’s offer for rival Abertis.

They also decided to shorten to 90 days a lock-up period during which Abertis shareholders would not be able to sell new Atlantia shares they are set to receive as part of the bid.

Atlantia CEO Giovanni Castellucci told an extraordinary shareholder meeting he did not see any contradiction between a 16.50 euro price offered by the Italian group for each Abertis share and the stock’s current market value of 19 euros, which he said included possible synergies from the merger. (Reporting by Stefano Bernabei, writing by Giulio Piovaccari)

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