Seven years after the first (failed) merger attempt between Picanol and Tessenderlo Group, the CEO and owner of both companies, Luc Tack, is trying a second time.
In essence, daughter Tessenderlo (50.65% owned by Picanol) will acquire mother Picanol by issuing new shares. For each Picanol share, shareholders will receive 2.43 shares in Tessenderlo, valuing Picanol at around €72.29 per share. A bit of an opportunistic offer, but no surprise knowing Mr. Tack’s nose for a good deal.
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Equity swap to make Tessenderlo and Picanol become one
- Published:
11 Jul 2022 -
Author:
Wouter De Blaere -
Pages:
3
Seven years after the first (failed) merger attempt between Picanol and Tessenderlo Group, the CEO and owner of both companies, Luc Tack, is trying a second time.
In essence, daughter Tessenderlo (50.65% owned by Picanol) will acquire mother Picanol by issuing new shares. For each Picanol share, shareholders will receive 2.43 shares in Tessenderlo, valuing Picanol at around €72.29 per share. A bit of an opportunistic offer, but no surprise knowing Mr. Tack’s nose for a good deal.