Veolia's takeover bid for Suez, justice suspends the unfriendly operation
The commercial court of Nanterre, seized urgently Sunday February 7 in the evening by Suez, met in the night.
In his order, he orders Veolia to suspend the launch of any takeover bid against its competitor.
ERIC PIERMONT / AFP
Text by: RFI Follow
In France, here is a new storm in sight on the water market, where Veolia wants to buy Suez against its will.
This Monday, February 8 in the morning, justice orders in summary the French champion of water treatment to suspend his unfriendly takeover;
the Minister of the Economy wants to seize the Autorité des marchés financiers.
The Nanterre Commercial Court was seized last night by Suez.
The world number two in water is distraught by the new total takeover offer unveiled a few hours earlier by the number one, Veolia.
The major maneuvers began in August 2020. Veolia reveals that it is interested in a stake in Suez.
In October, he announced that he held a third of his competitor's shares and offered him a friendly takeover bid.
Categorical refusal of the target, it fears the dismantling of its activities.
The Ministry of the Economy seeks to smooth things over and favors a negotiated solution.
The bosses of the two companies saw each other again a few days ago.
But, twist this Sunday, Veolia believes that Suez is a little too much resistance and therefore announces that it is ready to spend 8 billion euros to buy the entire group.
Next episode in ten days, before the Commercial Court, where the two companies are invited.
To read also: Veolia wants to swallow Suez: a Franco-French battle for the world market
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