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Spanish bondholder group bonds out for majority stake in rival cement firm
7 articles |
Updated 1d ago |
Created 1d ago
Bondalti has successfully completed its takeover offer against Ercros following a decisive 77,23% acceptance rate from the company's shareholders on March 19th. This outcome surpasses the initial regulatory threshold of over 50%, which was required for Spanish competition authorities to approve the deal without further conditions or delays.
Key Points
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1Bondalti successfully completed its offer for Spanish company Ercros with support from exactly or over 77.23 percent of shareholders.
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2The acquisition was confirmed as a success on March 19, meeting the essential condition set by regulators to proceed without further hurdles in Spain.
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3Ercross had previously announced preliminary data indicating acceptance rates above fifty percent at the beginning of the week.
Developments
[Mar 20]
No specific date provided for final regulatory approval, but success was confirmed on Mar 19 with >75% threshold met per Spanish regulations context implied by 'condicao essencial para a aprovacao do negocio pelo regulador espanhol'.
[Mar 20]
Bondalti completed the OPA (Offer for Public Acquisition) on Ercros, achieving exactly or over 77.23% shareholder support across multiple sources reporting Mar 19 data as current news.
[Mar 20]
Ercross had confirmed preliminary acceptance rates exceeding fifty percent at the beginning of March, establishing this figure as a key condition for regulatory approval in Spain prior to finalization on Mar 19/early morning reports.