(Finance) – SAES Gettersa group listed on Euronext STAR Milan and active in the production of components and systems for industrial and medical applications, announced that it has received on May 22nd from Managers’ Committee in Assogestioni a note highlighting the main ones managers’ observations (representing overall over 10% of the capital) with a request “to send the document to all members of the board and in particular to the independent directors, in light of their role in issuing the opinion on the fairness of the price” of the takeover bid. The company’s note confirms what was written this morning by La Repubblica.
The company explains that it has immediately shared the note with the Board of Directors, including the independent directors, and the Board of Statutory Auditors, also transmitting the same to the financial advisors appointed by the Board of Directors and the Independent Directors to draw up their fairness opinions to support the assessments regarding the adequacy of the offer price proposed by SGG Holding.
On May 23, the appointed financial advisors, Pricewaterhousecoopers Business Services, for the independent directors, and Lazard, for the Board of Directors, released their respective fairness opinions. On the same date, the independent directors and the Board of Directors, on the basis of the documentation examined, including in the press release received from Assogestioni, expressed, in both cases unanimously, their favorable opinion regarding the appropriateness of the price offered (26.30 euros, ex dividend 2023).
SAES Getters highlights that the price indicated as reasonable in the Assogestioni note received by the company was 32.86 euros per share, specifying that the price of 34.08 euros per share, the only one indicated in the Repubblica article, could have been achieved using the 2025 EBITDA, and not the consolidated data available to date.