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Autogrill to launch Alpha-approved takeover bidAutogrill to launch Alpha-approved takeover bid
Gavin Lipsith
4-Jun-2007
The Italian company has been given the implicit go-ahead by Alpha Airports Group’s board to launch a full offer for the company
The board of Alpha Airports Group has allowed Autogrill’s shares in it to exceed the 30% threshold after which it must make a full offer for the company. The Italian firm has acquired a further 12.8% in the company, taking its total holding to 42.7%, and has indicated in a statement that Alpha is likely to recommend its takeover bid.
The last batch of shares was purchased for £1.10 ($2.20) each, and Autogrill confirmed that its offer for the remainder of Alpha’s shares would be set at the same price.
A further announcement will follow. Keep an eye on RavenFox.com for the latest developments.
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(1-Jun-2007) - The Italian conglomerate’s share purchase from Servair takes its Alpha holding to the maximum allowable before it must make a full takeover offer
(30-May-2007) - Alpha denies prior knowledge of the move by Autogrill that could lead to a possible takeover attempt by the Italian conglomerate
(4-Jun-2007) - Alpha CEO Peter Williams tells RavenFox.com that Alpha did not solicit the bid that Autogrill will officially make for the company later today
(4-Jun-2007) - The two companies have officially announced the agreed cash offer Autogrill will make for the entire share capital of Alpha Airports Group
(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