House of Thor BV made an offer to acquire 52.1% stake in Zenitel NV (ENXTBR:ZENT) from De Wilg CommV, QuaeroQ CVBA and other shareholders for €39.3 million on November 16, 2020. House of Thor will acquire 1.7 million shares of Zenitel at an offer per share of €22.75. House of Thor BV made an offer to acquire 52.1% stake in Zenitel NV (ENXTBR:ZENT) from De Wilg CommV, QuaeroQ CVBA and other shareholders for €40.1 million on November 16, 2020. As of February 26, 2021, the bid price have been increased to €23.25 per share. If successful, the bid would be followed by a simplified squeeze-out if the Offeror along with concerned parties acquire 96.25% stake. As on April 23, 2021, the bid price is increased to €25.5 per share. The increase of the bid price by € 2,25 results from the interaction with certain Zenitel shareholders as the voluntary reopening approached. These shareholders, who jointly hold a stake of 6% in Zenitel, have committed to accept the improved bid. The bid is supported by reference shareholder De Wilg CommV, which has irrevocably committed to tender its shares to the bid. The transaction is subject to a number of conditions, including regulatory approval and an acceptance threshold of 95% and a material adverse change clause. Subject to the review by the Board of Directors of the prospectus, the Directors of Zenitel who are not affiliated with 3d investors have unanimously decided to support and recommend the bid. The acceptance period will open from March 2, 2021 to April 1, 2021. As on April 1, 2021, The initial acceptance period of the voluntary and conditional public takeover bid launched by House of Thor BV/SRL ended. During the initial acceptance period, 793,978 shares in the Target representing 23.98% of the outstanding shares in the Target were tendered into the Bid. The Bidder has decided to voluntarily reopen the Bid, from April 26, 2021 until Friday May 7, 2021.The bid price for the shares tendered during the first acceptance period will be paid on Monday April 19, 2021. As on April 28, 2021, the reopened acceptance period was extended to May 21, 2021. The results of the reopened acceptance period will be announced no later than May 31, 2021. At the latest on June 14, 2021, House of Thor BV/SRL will pay the increased bid price to the shareholders who tendered their shares during the reopened acceptance period. On the same day, the shareholders who accepted the bid earlier will receive the additional bid price of €2.25 per share. Degroof Petercam Corporate Finance acted as an independent expert for Zenitel. Marieke Wyckaert, Matthias Wauters, Joris De Wolf and Bert Antonissen of Eubelius acted as legal advisors for 3d investors, parent of House of Thor BV. On May 25, 2021, House of Thor BV holds 3.26 million share representing 98.35% stake of Zenitel. The threshold that allows House of Thor BV to launch a simplified squeezeout bid has thus been reached. Shareholders who had not yet tendered their shares in the bid, will have the opportunity to obtain the bid price of €25.50 per share through their financial intermediary, from May 28, 2021 until June 17, 2021. Shares not tendered by the end of this acceptance period will be deemed to have automatically transferred to the Bidder. The funds required to pay the bid price for these shares will be deposited with the deposit and consignment office. At the end of the squeeze-out bid, Euronext will proceed to the delisting of the Zenitel shares. House of Thor BV will already pay the bid price on May 27, 2021 to the shareholders who tendered their shares during the voluntary reopening. On the same day, the shareholders who had already accepted the bid will receive the price increase of €2.25 per share.