Vivendi to Pursue Total Ownership of Lagardère (publishersweekly.com)

French conglomerate Vivendi confirmed it is pushing ahead with its deal to purchase the 17.9% stake in Lagardère held by investor Amber Capital for about $720.6 million. Vivendi, which also owns book publisher Editis, already holds a 26.7% stake in Lagardère and the resulting transaction will give Vivendi 45.1% of its rival’s shares.

Under French regulations, once a company’s stake in another company exceeds the 30% level, it must make a tender offer for all remaining shares and Vivendi confirmed it will be making an offer to buy remaining shares at a price of €24.10 per share.
more at: https://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/88120-vivendi-to-pursue-total-ownership-of-lagard-re.html

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