End of the soap opera. IFM’s takeover bid for Naturgy comes to an end with a bittersweet taste. The Australian firm will have to settle for only 10.83% of the Spanish company’s capital after achieving that low degree of acceptance of its offer, which has always been partial.
Initially, IFM had proposed to acquire between a minimum of 17% and a maximum of 22.69% of the capital of Naturgy, and for this it was offering 22.07 euros per share to interested shareholders. However, he has finally given up on that minimum limit of acceptance.
By way of a breakdown, IFM’s offer has been accepted for 105 million shares – compared to the maximum of 220 million shares to which IFM aspired -, representing that 10.83% of the capital.
Before all this information, the National Securities Market Commission (CNMV) has proceeded to suspend Naturgy on the stock market. At that time, their titles rose 0.31%, to 23 euros. It has also announced that from three in the afternoon they will be trading again.