The siege of Suez.
LUDOVIC MARIN / AFP
The water and waste treatment group Suez once again rejected Wednesday the "vague" proposals of its competitor Veolia, which had unveiled a little earlier an improved offer and concessions to buy 29.9% held by Engie in Suez.
Suez calls in a press release "to the Board of Engie and its shareholders not to decide on the future of Suez under the conditions and the timetable dictated by Veolia", whose offer expires at midnight.
Engie, of which the State holds 23.64%, meets Wednesday a board of directors to study this proposal, which could be a first step towards a merger of the two French giants of the sector.
Veolia had as promised improved Wednesday morning its offer, from 15.50 to 18 euros per share and which now reaches nearly 3.4 billion euros.
He also proposes to Suez a period of discussions of six months "to seek the common bases of an agreement" and undertakes during this period to file "a public offer relating to 70.1% of the capital of Suez only to on condition that it be friendly ”.
But Suez, which intends to retain its independence, unsurprisingly brushed aside these proposals.
Its board of directors "noted that the proposals made today by Veolia remain vague and that they do not guarantee the interests of shareholders and stakeholders".
The group therefore believes that the Veolia project does not offer guarantees to its shareholders ("there is no guarantee that they will benefit from a cash offer at the same price and conditions as Engie"), its employees and its customers.
Veolia now offers € 18 per Suez share to Engie
Suez-Veolia merger: Around 10,000 jobs threatened worldwide, according to Suez