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CIP Merchant Capital rejects 50p/share offer from Corporation Financiere Europeenne S.A.
StockMarketWire.com
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CIP Merchant Capital said it had rejected offers of 50 pence per share for the company by Corporation Financiere Europeenne S.A.
The company confirmed that CFE made an initial approach to the company in a letter dated 28 September 2020, and a subsequent approach on 2 December 2020.
But the company unequivocally rejected the possible Offer on both occasions and said the offer was at a discount to the closing mid market price of CIP's shares on 26 January 2021 and a 'significant' discount to its latest unaudited net asset value of 78.05 pence per share, as at 22 January 2021.
Under market rules CFE would be required to make a firm offer by no later than 5.00 p.m. (London time) on 23 February 2021, or walk away.
At 9:43am: (LON:CIP) Cip Merchant Capital Limited Ord Npv share price was 0p at 45.5p
Story provided by StockMarketWire.com
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