Vivendi launches a takeover bid for the Lagardère group

The Vivendi group of Vincent Bollore announced that it had agreed to buy back the 17.93% of Lagardère’s capital held by the fund Amber Capital at the price of 24.10 euro

The French media giant, controlled by the Bolloré family which already owns 27% of Lagardère group, has agreed to spend nearly 610 million euros to buy back the 18% or so that the fund intends to sell to it Amber Capital. Vivendi, which will thus control 45.1% of Lagardère’s capital, will cross the threshold of 30% of Lagardère’s capital and voting rights and must therefore launch a takeover bid for the entire group. In an attempt to seduce the various shareholders (including the 9.90% of Financière Agache controlled by Bernard Arnault, the CEO of the LVMH group also a shareholder of “Echos”), Vivendi proposes to acquire Lagardère shares at 24.10 euros, ie 5 euros above the average price on the stock market since the beginning of the week. It remains to be seen whether the proposed premium will appeal to all shareholders.

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