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
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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.
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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.
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To read also: Veolia wants to swallow Suez: a Franco-French battle for the world market
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