(Finance) – Appreciable increase for Unieuroup 3.42% on previous values.
The takeover bid launched by Fnac Darty concluded on Friday with acceptances equal to 67.1% of the capital which, added to the 4.4% already held, brings the French to 71.5% of the company’s capital Italian.
Due to the communication of the fulfillment of the minimum threshold condition, the deadlines are now expected to reopen, between 4 and 8 November, with the possibility for the remaining shareholders to accept the offer under the same conditions as the acceptance period .
“We are very pleased to announce that we have received the support of the large majority of Unieuro shareholders (71.5% of Unieuro’s share capital) for our acquisition project, exceeding the minimum threshold we had set – commented Enrique Martinez, CEO by Fnac Darty – We are convinced that this operation will create added value for all our shareholders and partners. Between 4 and 8 November, a further period to accept the Offer is expected to open, which will give the opportunity to others. shareholders to tender their shares to the Offer. We are very excited and look forward to working with the Unieuro team as soon as the authorizations required by law are obtained.”
Comparing the performance of the stock with the FTSE Italia Staron a weekly basis, we notice that the largest distributor of consumer electronics and household appliances maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance -0.17%, compared to -1.72% of theindex of stocks in the STAR segment).
The technical status of Unieuro shows signs of worsening with a support area set at 11.31 Euros, while on the upside the resistance area is identified at 11.67. For the next session we could see a new bearish trend with a target probably estimated at 11.13.