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GF is launching a public cash offering of €28.85 per share for all Uponor shares, the group announced on Monday. Uponor’s Board of Directors recommends that the takeover proposal be accepted.
GF jumps to Finns’ side as “White Knight”. At the end of May, the Belgian Aliaxis group offered the company €25.75 per share, or a total of €1.9 billion, but Uponor rejected the offer. They want to complete the acquisition in the fourth quarter of 2023 if the Schaffhausen company steps in.
According to Georg Fischer, the acquisition was secured through a combination of available cash and committed bank financing. In addition, GF plans to issue 8 million of its own shares to strengthen its equity base.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
