Acceptance deadline looms for Autogrill’s Aldeasa offer

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Aldeasa shareholders have until midnight tonight to accept the Italian company's €36.57 ($47.49) per-share bid for the Spanish retailer

The deadline for shareholders in Aldeasa to accept Autogrill subsidiary Retail Airport Finance's bid for the retailer expires at midnight tonight (April 14). The company has launched a €36.57 ($47.49) per-share bid for all shares excluding the 34.5% stake held by Altadis, which is to become an equal partner in the new company if it is successful in acquiring Aldeasa.

A spokesman for Spanish stock market regulator CNMV said that it would be counting the number of acceptances received tomorrow, and anticipated an announcement would be made early next week. The bid is not conditional on any level of acceptance, although analysts are expecting a high participation from Aldeasa shareholders.