Tod’s: Della Valle, failed bid but on with our project – Ultima Ora

(ANSA) – ROME, OCTOBER 26 – “We acknowledge that part of the market considered the Offer to be inferior to its expectations” but “those who have decided to keep their shares having read the reasons for the offer, means that they share ours vision and its execution; therefore, starting from tomorrow we will all work to obtain in the necessary time the realization of an operation that I hope and hope will be of great success “. The Della Valle family says this by explaining that the takeover bid launched by its Deva Finance on Tod’s will not be perfected because the subscriptions allow you to go up to only 86.95% of the capital and not at least 90% (including 10% in the hands of Lvmh through Delphine), a threshold set as a condition of effectiveness and which we do not intend to give up now. The alternative route of a merger by incorporation of Tod’s into Deva Finance had already been proposed as an alternative to arrive at the delisting in the event of the failure of the takeover bid.

In the meantime, the takeover bid will therefore not be completed and the shares submitted in acceptance of the offer will be returned and re-entered into the availability of their respective holders within today’s trading day. (HANDLE).