(Tiper Stock Exchange) – No delisting of Tod’s shares. DeVa Finance, the company controlled by Diego Della Valle with which the tender offer on the shares was promoted Tod’san Italian luxury house listed on Euronext Milan, has decided not to submit the request to proceed with the merger by incorporation of the company listed in it, also renouncing the consequent revocation from Piazza Affari. Uncertainty had reigned since October, i.e. since the failure of the totalitarian voluntary takeover bid (OPA).
DeVa Finance, according to a note, preferred to take into account the indications received from the market and not proceed with an operation that could be considered hostile or at least “not market friendly”.
“The value of 40 euros per share offered to the market was the result of a careful analysis done with fairness and transparency – commented Diego Della Valle – However, we acknowledge that some of our shareholders believed the value of the Tod’s group to be significantly higher than our valuation and preferred to remain in possession of their shares”.
“We take this message carefully and as an incitement to move forward with our plans as they go through the development of individual brands and the their patrimonial valuewhich we believe have large growth margins in the medium term,” he added.
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