Navigator increases the value of the takeover bid for British Accrol by 2.6% – Companies

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The Portuguese paper pulp producer revised the consideration offered for each share of British Accrol from 38 to 39 pence.

Navigator increased the consideration offered in the public takeover offer (OPA) for the entire capital of the British company Accrol by 2.6%.

In a statement sent this Friday to the CMVM, the company led by António Redondo indicates that the final offer is 39 pence per share in cash, one pence more than the initial consideration.

In this way, Navigator says, the offer values ​​Accrol’s equity at approximately £130.8 million and “results in an enterprise value of approximately £188.2 million”.

The management of the Portuguese company emphasizes that it considers “the financial terms of the final offer are fair. Therefore, Navigator confirms today that the financial terms of the final offer are final and will not be increased, reserving, however, the right to review the Offer Price Final and/or otherwise improve the terms of the Final Offer (i) if there is an announcement on or after the date of this Announcement of a possible
offer or a firm intention to make an offer to Accrol by any third party, or (ii) if the Takeover Panel otherwise gives its consent.”

The company adds that Accrol’s board of directors “is recommending to shareholders the acceptance of the Offer”.

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