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Autogrill increases bid for AldeasaAutogrill increases bid for Aldeasa
John Gallagher
21-Mar-2005
The Italian company had already placed the highest bid, but trumped its own offer yesterday while Dufry held fire
In a statement issued in Madrid this evening, the Spanish stock exchange regulator Comision Nacional del Mercado de Valores (CNMV) has announced that Autogrill subsidiary Retail Airport Finance has sought permission to increase its bid for Spanish travel retailer Aldeasa from €33 ($44) to €36.57 ($48.76) per share.
According to CNMV, Swiss retailer Dufry Group has not increased its €31 ($41.33) per-share bid. The GEA consortium, which started the bidding war for Aldeasa last December with a €29 ($38.66) per-share offer, withdrew its bid last week.
Keep an eye on RavenFox.com for more details as the situation develops.
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(28-Jan-2005) - The Italian firm has trumped Dufry Group's offer for the Spanish retailer in a bid tabled after discussions with Aldeasa stakeholder Altadis
(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
(23-Mar-2005) - The group has officially pulled out of the race for Aldeasa after rival suitor Autogrill posted the highest bid
(14-Feb-2005) - The Spanish stock market regulator has authorised the bid by Dufry Group while the market awaits a decision on Autogrill's higher bid
(22-Feb-2005) - The Spanish operator rejects the bid from its Swiss rival as "financially inadequate"