Link Securities | As reported yesterday by the Bolsamania.com portal, around 150 Ercros shareholders holding a total of 24,554,822 shares in the company, representing 26.86% of the share capital, have expressed their rejection of the takeover bids launched by Portugal’s Bondalti for 100% of the company on 5 March and by Italy’s Esseco on 28 June.
In a statement sent by Ercros itself to the Spanish National Securities Market Commission (CNMV), this group of shareholders, which includes the significant shareholders Joan Casas Galofré, proprietary director of Ercros, and Montserrat García Pruns, have expressed their ‘irrevocable desire not to accept any of the aforementioned voluntary takeover bids’. They have also declared that they do not have any agreement or pact with any other shareholder of the company for any type of concerted action. In addition, the company’s Board of Directors has taken the opportunity to emphasise that, at all times, it has ‘observed the duty of passivity regarding the takeover bid regime’.
Bondalti launched its takeover bid for Ercros in March at a price of €3.60 per share. However, on 11 July, it announced that the price had been reduced to €3.505 per share as a result of the dividend of €0.096 gross per share paid by Ercros to its shareholders on 10 July, charged to 2023 profits. For the same reason, Esseco reported on the same day the reduction of its initial offer price from €3.84 to €3.745.
