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BRIEF-Michelin opens simplified public offer to acquire SIPH
June 21, 2017 / 11:12 AM / 5 months ago

BRIEF-Michelin opens simplified public offer to acquire SIPH

June 21 (Reuters) - MICHELIN:

* REG-MICHELIN : MICHELIN OPENS A FRIENDLY SIMPLIFIED PUBLIC OFFER FROM JUNE 22, 2017 TO JULY 12, 2017 TO ACQUIRE SIPH

* TO ACQUIRE OUTSTANDING SHARES OF SIPH AT A PRICE OF EUR 85 PER SHARE

* ‍PROPOSED OFFER PRICE WOULD GIVE RISE TO A 41.8% PREMIUM ON LAST CLOSING SIPH SHARE PRICE PRIOR TO FILING DATE​

* FOLLOWING PUBLIC OFFER, AND IF REQUISITE CONDITIONS ARE MET, CFM WILL REQUEST A SQUEEZE-OUT OF ANY REMAINING MINORITY SHAREHOLDERS OF SIPH

* ‍PROPOSED OFFER PRICE IMPLIES PREMIUM OF 49.6% AND 57.8% VERSUS VOLUME WEIGHTED AVERAGE SIPH SHARE PRICE OVER PREVIOUS 60 AND 250 TRADING DAYS​

* ODDO & CIE ACTS AS PRESENTING AND GUARANTEEING BANK OF SIMPLIFIED PUBLIC OFFER Source text for Eikon: Further company coverage:, (Gdynia Newsroom)

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