Zurich / CH. (aag) Swiss-Irish Aryzta AG notes the statement made by Elliott Advisors (UK) Limited on 23 November. Aryzta confirms that it has received a non-binding letter from Elliott in which they proposed making an offer at CHF 0.80 per share, subject to certain conditions, some of which cannot be satisfied as a matter of fact, and to Elliott being able to secure refinancing for Aryzta. As previously mentioned, Aryzta concluded the discussions with Elliott on October 24, 2020. Aryzta previously announced the appointment of financial advisors for asset disposals and the Board, in line with its fiduciary duties, will consider all alternatives and select the optimum option for a sustainable future for the company.
2020-11-24: Elliott Advisors Letter
Aryzta notes that it has received a letter from Elliott Advisors (UK) Limited withdrawing the condition from its non-binding proposal which could not be satisfied as a matter of fact. As previously mentioned, Aryzta concluded the discussions with Elliott Advisors on 24 October 2020.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- LG Chem and ADM: Joint Ventures in Illinois are canceled
- Wendy’s: Company plans to expand into Europe
- Delivery Hero: may face significant fine due to antitrust violations
- Emmi Group: intends to acquire Mademoiselle Desserts
- AB Foods: announces strong H1-2024 performance
- DSM-Firmenich: Queen Maxima inaugurates new dual head office
- RBI: Announces Investments to Drive Growth in China
- Europastry S.A.: puts its IPO process on hold
- McCormick: Reports Second Quarter Performance
- Reborn Coffee: Closes Master License Agreement for UAE
- General Mills: Reports Fiscal 2024 Fourth-Quarter Results
- SunOpta expands plant for processing plant-based beverages
- Britannia: Operating profit grew 10 percent in FY-2023
- Tate + Lyle and CP Kelco to merge to leading global player
- Ülker Bisküvi: announces Q1-2024 financial results
- Europastry: intends to go public on the Spanish stock exchange
- Europastry S.A.: publishes 2023 Annual Report
- Swisslog: announces new Americas region headquarters
- Reborn Coffee: Expanding Omni-Channel Strategy
- Mondelez International and Lotus Bakeries Join Forces