As expected, Vivendi filed its official tender offer for the remaining shares of Lagardere on Monday with the French competition authority (Autorité des marchés financiers) for approval. The offer includes a new enticement to accelerate the completion of the deal: For Lagardere shareholders who elect to sell their stock immediately, through May 20, Vivendi will pay €25.50 a share, an increase of €1.40 a share over what they paid Amber Capital in December and are required to offer others. (The increased offer bundles in the proposed €.50 a share dividend that awaits approval at the company’s annual meeting, so effectively […]
