(Finance) – The final results of the takeover bid for DeVa Finance on Tod’s. Based on the final results communicated by the Intermediary Responsible for Coordinating the Collection of Acceptances, BNP Paribas Securities Services, at the end of the Acceptance Period a total of no. 4,134,358 Shares, representing the 12.49% of the Issuer’s share capital and equal to 48.91% of the Shares Subject of the Offer.
As a result of the acceptance of the Offer – a note reads – the Offeror would have come to hold, together with the Persons Acting in Concert, a total of no. 28,774,170 Shares, representing 86.95% of the relative capital.
Final results “confirm the achievement by the Offerortogether with the Persons acting in Concert, of one overall participation less than 90% of the Issuer’s share capital. Therefore, “the Condition on the Threshold has not been fulfilled“.
The Offeror confirms “not waiving the Condition on the Threshold, with the consequence that the Offer must be considered ineffective”.
As for the pursuit ofpossible delisting of Tod’s through the merger by incorporation of Tod’s into DeVa, the Offeror announces that “no decision has yet been taken on the matter“. As a result of the above, the Shares tendered to the Offer have been returned and re-entered into the availability of their respective holders, without any charges or expenses to be borne by the same, during this Trading Day (ie, on October 26, 2022).
DeVa Finance also specifies that the Adherents have not suffered any prejudice with regard to the Increased Vote accrued or in the process of accruing.
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