Ercros S A : Information from Ercros on the Bondalti takeover bid
March 07, 2024 at 08:35 am EST
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Reference is made to the request for authorisation of a voluntary takeover bid for 100% of the Company's share capital, at a price of EUR 3.60 per share (the "Offer") submitted on 5 March 2024 by Bondalti Ibérica, S.L.U (the "Offeror"). The terms and conditions of the Offer are described in the inside information published by the Offeror on that date under registration number 2.154.
It is noted that the board of directors of Ercros had no prior knowledge of the Offer, and therefore, it is an unsolicited and previously unagreed Offer with the Company.
The board of directors and the management team of Ercros will continue to diligently manage the Company's business in the ordinary course of its activities, safeguarding the social interest and fully respecting the obligations established by applicable regulations.
Additionally, the board of directors is in the process of appointing a financial advisor and a legal advisor to assist during the Offer process in fulfilling their duties and safeguarding the interests of the Company's shareholders.
Finally, the board of directors, with the assistance of its financial and legal advisors, will provide a statement in due course on the Offer, once authorized by the National Securities Market Commission and within specified timeframe according to the applicable regulations.
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Ercros SA published this content on
07 March 2024 and is solely responsible for the information contained therein. Distributed by
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07 March 2024 12:03:25 UTC.
Ercros SA is a Spain-based company engaged, together with its subsidiaries, in the chemical industry. The Companyâs products are structured into three business lines: Businesses Associated to Chlorine, which comprises the production of chlorine, ethyl acetate, caustic soda, sodium hypochlorite, dichloroethane, chloromethane, sodium chlorate and caustic potash, polyvinyl chloride (PCV), as well as water disinfectants; Intermediate Chemicals, which produces formaldehyde, glues and resins for the fiberboard and plywood industries, and Pharmaceuticals, which comprises raw material and intermediate products used in the pharmaceutical industry. The Company owns such subsidiaries as Marcoating SLU, Gades Ltd and Ercekol AIE, among others. In April 2014, it sold Fosfatos de Cartagena SLU to Timab Iberica.