Norbolsa | Government opposition to the Polish bid clears the way for an agreement with the Basque consortium. Yesterday Talgo shares plunged 9% to €3.28/share affected by this decision. So it looks like we will find out today if an agreement is finally reached with the consortium to acquire 29.8% of Talgo.
On Wednesday we learnt that Pesa would be willing to launch a takeover bid for 100% of Talgo, with an offer of ‘at least’ €5 per share.
Throughout the negotiation process, the Polish government has been very cautious not to contradict the interests of its Spanish counterparts in the operation, so Pesa decided to hold off on presenting an offer that it had already outlined.
