Europcar Rejects $2.64 Billion Takeover Approach
23 Giugno 2021 - 7:09PM
Dow Jones News
By Mauro Orru
Europcar Mobility Group SA has rejected a takeover approach
valuing the company at about 2.21 billion euros ($2.64 billion)
after concluding the proposal didn't reflect the company's value
and potential.
The Paris-listed car-rental company said Wednesday that it
recently received an expression of interest for a potential
transaction. It didn't name any prospective bidders.
"After studying this proposal carefully, the board of directors
of the company has concluded that the price of EUR0.44 per share
proposed does not reflect the company's full value and value
creation potential," Europcar said.
"Further discussions may take place, which the company does not
intend to comment, unless required by law," the company added.
Earlier on Wednesday, Bloomberg reported that Europcar had
rejected a takeover attempt from Volkswagen AG at about EUR0.44 per
share, citing people with knowledge of the matter.
Volkswagen didn't respond to a request for comment.
Europcar shares closed 9.5% higher at EUR0.43 on Wednesday.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
June 23, 2021 13:02 ET (17:02 GMT)
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