RCS, the next day. What is certain is that Urbano Cairo has won the battle with Andrea Bonomi and historical members of RCS, almost reaching the absolute majority of the capital of the company that publishes the Corriere della Sera . The last day of the games offered in mid-June, Cairo Communication has collected 48.8% of Rizzoli capital. International Media Holding has received a 13% stake in membership, which with 24.7% already owned led shareholders tender offer to 37.7%. Next to Bonomi had sided Mediobanca, Diego Della Valle, Pirelli, Unipol. There is a 13.5% shareholder RCS that has not made a takeover bid for the title or Imh, nor to the public mixed Cairo. Final data on accessions are still expected now until Thursday, July 21.
Within this Monday at 7:59 instead of the two bidders should declare on achieving or waiver of conditions on the minimum quantity of the operation efficiency. It was set at 66.7% for the Opa and 50% plus one share to Cairo. Both had then told to be satisfied with lower quotas and 30% in the case of Bonomi and 35% in the case of Cairo, but in front of the company’s control (defined as the ability to determine the majority in the assembly and appoint the board of administration). We need to understand now that the offer waiving the minimum conditions on the control (including the conditions that give there is also the clause on the debt of the change of control will be the positioning of the five members tender offer, if that is still choose to declare valid) . A warm is not there already a Imh orientation, which should meet to evaluate what to do.
it is unclear even if Consob will need to speak about the actual possibility of declaring, wanting to do that, however valid the offer. With 24.7% of the capital would remain Imh co-shareholder in Cairo with an estimated representation in the board of directors. With a 37.7% would have a share able to be decisive in the case of extraordinary assemblies (the so-called blocking minority). There is however no doubt that the Cairo operation is prevalent. In open stock market days between 22 and July 28 will open a window for those who have joined takeover bid that will migrate sull’Opas Cairo.
July 16, 2016 (amendment July 16, 2016 | 10:47)
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