[ad_1]
September 3 (Reuters) – Castor Bidco, a vehicle of the Fintech ION group, announced on Friday that it would increase its offer for the credit analysis and management company Cerved Group (CERV.MI) to 2.05 billion euros ($ 2.44 billion), if it bought back more than 90%. of Italian society.
If more than 90% of shareholders are accepted, Castor Bidco said he would pay 10.50 euros for each Cerved share. If the threshold is not reached, the vehicle will stick to its previous offer of 10.20 euros.
Dublin-based ION, led by Italian businessman Andrea Pignataro, announced in March a € 1.86 billion takeover offer for Cerved.
Last week, he raised the offer by 7% to nearly € 2 billion. However, Cerved’s board rejected the offer saying it was too low. Read more
Cerved declined to comment on Castor Bidco’s latest offer.
ION previously said it is committed to supporting Cerved’s current business plan and leveraging its expertise in the software and data analytics industries. However, this did not preclude a future overhaul of Cerved’s operations.
The bid submission period ends on September 9, the vehicle said.
($ 1 = 0.8408 euros)
Report by Shubham Kalia in Bengaluru; Editing by Amy Caren Daniel
Our Standards: The Thomson Reuters Trust Principles.
Source link
