Banco Sabadell| FCC has announced that it has received provisional declarations of acceptance representing 2.36% of the capital for its takeover bid for 7.01% of its own shares (€12.50/share). It should be remembered that the acceptance period ends on 30 November ’23.
Valuation of the analysis team: News with little impact. The increase in the number of declarations of acceptance registered yesterday (from 0.74% to 2.36%) could be due to the incorporation of the requests from E. Koplowitz, who already communicated that she would participate with a stake of 1.57%. If so, the free float that would have accepted the offer would be around 0.79%. We recall that the main shareholders of FCC are C. Slim (77.82%), Bill Gates (5.74%), E. Koplowitz (4.64%) and 11.8% would be free float.
