Veolia has put on the table an improved offer to buy back its Suez shares from Engie.
"I am eager to prove that my offer has never been hostile, which is why I am ready to give an important pledge in return for similar efforts on the part of Suez", explained the CEO of Veolia, Antoine Frérot .
Veolia unveiled on Wednesday an improved offer to buy from Engie its 29.9% stake in its competitor Suez, now offering 18 euros per share, or nearly 3.4 billion, against 2.9 billion previously, and indicated to seek a compromise.
The water and environment giant indeed offers Suez a period of discussions of six months "to seek the common bases of an agreement" and undertakes during this period not to file "a public offer relating to 70.1% of the capital of Suez only on the condition that it is friendly, ”he said in a statement.
Thus, "Veolia will declare that its intention to file a public offer will be conditional on a favorable recommendation from the Board of Directors of Suez."
"My offer has never been hostile"
"I am eager to prove that my offer has never been hostile, which is why I am ready to give an important pledge in return for similar efforts on the part of Suez", explained to journalists the CEO of Veolia , Antoine Frérot, during a conference call.
In return, the group asks its competitor to deactivate the foundation under Dutch law which was to house its Water France activity, a "poison pill" intended to derail a takeover.
Veolia has also reiterated its commitment to the social issue, promising to "maintain all employee employment in France".
The energy group Engie is due to meet with its board of directors on Wednesday to study Veolia's proposal, which is only valid until midnight.