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dealReporter Risk Arbitrage Weekly Overview 30 December 2010 - 06 January 2011

06/01/2011

On Wednesday Prysmian issued the offer document relating to its public offer for Draka. The offer price is EUR 8.60 in cash plus 0.6595 new shares for each Draka share. The implied value of Draka is EUR 17.20 per share. Full support has been given by the Draka Board. The offer period commenced on 06 January 2011 and will end on 03 February 2011.
Seloger.com announced on Wednesday a meeting of its Supervisory Board on 03 January 2011 had approved the holding of an EGM on 20 January 2011. At the meeting, Seloger.com shareholders will vote on a resolution providing for the capping of all voting rights attached to the company's shares at 15% (only to be waived if the shareholder holds at least a 50.01% stake).
On Tuesday Grupo ACS announced its shareholding in Hochitef had increased to 30.34% at the expiration of the first acceptance period, on 29 December 2010. As required by German law, a further two-week acceptance period will follow, expiring on 18 January 2011. ACS expects the offer to complete by early February 2011.
The offer for BRIT Insurance by Achilles Group was extended last Thursday, after receiving 70.78% acceptance by the first closing date of the offer on 27 December 2010. The next closing date is 10 January 2011.

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Press Release 06 January 2011.pdf

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