The European M&A landscape saw a fair amount of movement last week in respect to existing public takeover and mergers.
• The Prudential deal saw a week of plenty activity as the company finally made the firm announcement of its planned right issue last Monday. This was
followed the issuance of the formal notice of the Hong Kong listing the following day. The UK shares where moved to the Hong Kong Registration today.
• Last Monday Providence Education responded to the previous increased counter offer by EQT. The bidder company announced it would increased its
offer to SEK 190 , compared to EQT’s offer of SEK 205 per share. Academedia responded the following day by recommending the rejection of this
increased bid and is now considering the approach by Providence Education to be of a hostile nature.
On Tuesday, Sperian Protection confirmed that it had received higher counterbids to the Menelas France SAS bid on it’s outstanding share capital. On
Thursday it was announced that Honeywell International had filed its offer with the AMF, offering Sperian shareholders EUR 70 per share.
On Thursday Telecom Italia Media announced it had received regulatory approval for its planned rights Issue. The price and terms were set by the
company the following day
See our analysis.
