EU Clears EP Group Takeover Bid for Fnac Darty
European Commission regulators have approved EP Group's takeover offer for retailer Fnac Darty SA (EURONEXT:FNAC). The transaction values the company's shares at 35 euros each and offers 81.161 euros per convertible bond.
This clearance removes the final expected regulatory hurdle needed to complete the transaction. The takeover bid has gained key support, with the company's board recommending the deal and an independent expert confirming that the price is fair to holders. Shares of Fnac Darty were flat at 34.60 euros following the news.
Investors are now watching for the official schedule from France's market authority, the Autorité des marchés financiers. The regulator will announce the formal offer timetable, including the exact deadline for shareholders to tender their shares.
Key points
- The European Commission granted regulatory clearance for EP Group's acquisition of Fnac Darty SA.
- The deal terms offer shareholders 35 euros per share and 81.161 euros per convertible bond.
- Fnac Darty's board supported the bid after an independent expert concluded the financial terms are fair.
- French market regulator AMF will soon announce the official timetable and tender closing date.
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How we writeDisclaimerQuestions and answers
What are the terms of the EP Group offer for Fnac Darty?
EP Group is offering 35 euros per share in cash and 81.161 euros per OCEANE convertible bond for Fnac Darty SA.
Did Fnac Darty board approve the takeover bid?
Yes, Fnac Darty's board issued a favorable opinion on the takeover bid, and an independent expert confirmed the offer terms are fair.
What is the next step in the Fnac Darty takeover process?
The French market regulator, Autorité des marchés financiers, will publish the final timetable for the offer, including the closing date for tendering shares.