Register for Digital Look

RHI Magnesita opens tender offer to minority shareholders

By Josh White

Date: Monday 12 Nov 2018

RHI Magnesita opens tender offer to minority shareholders

(Sharecast News) - RHI Magnesita updated the market on the integrated tender offer, as well as announced the launch of the offer to minority shareholders, of Magnesita Refratários on Monday.
The FTSE 250 firm said that, under the terms of the integrated tender offer, RHI Magnesita was offering the option between a cash-only offer or cash plus shares of RHI Magnesita.

"As disclosed previously, the company expects substantially all of Magnesita's minority shareholders to tender their shares and opt for the cash plus shares consideration," the board said in its statement.

"If 100% of Magnesita's minority shareholders tender their shares and elect for the cash plus shares consideration option, the group will disburse approximately BRR 497m (€117m) and issue up to 5,000,000 additional shares."

The delisting of Magnesita's shares, after which it would become a privately-held company, remained subject to acceptance in the integrated tender offer of more than two thirds of the shareholding stake which had registered to participate in the offer, RHI Magnesita explained.

..

Email this article to a friend

or share it with one of these popular networks:


Top of Page