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Aldeasa votes to accept Autogrill bidAldeasa votes to accept Autogrill bid
John Gallagher
29-Mar-2005
The operator's board gives its blessing for shareholders to accept the Italian group's offer
The board of Spanish travel retailer Aldeasa has unanimously voted to accept the improved €36.57 ($48.76) per-share offer from Autogrill subsidiary Retail Airport Finance (RAF).
Following a report from adviser Morgan Stanley, the board told shareholders that it believes the revised offer is financially "fair" and recommended its acceptance. The bid is open for acceptance by shareholders until April 14.
The RAF/Autogrill bid was cleared by European Union competition authorities on March 24.
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(14-Apr-2005) - Aldeasa shareholders have until midnight tonight to accept the Italian company's €36.57 ($47.49) per-share bid for the Spanish retailer
(11-Mar-2005) - Spanish market regulator CNMV approves the third bid for the Spanish retailer
(28-Jan-2005) - Italian and Spanish markets speculate on whether Italian firm Autogrill is poised to launch a counter-bid to Dufry Group's Eu31 ($40) per share offer for Aldeasa
(16-Mar-2005) - Aldeasa's original suitor drops out as board approves Autogrill bid
(18-Apr-2005) - Autogrill and Altadis joint-venture to take control of Aldeasa after overwhelming acceptance from Aldeasa shareholders