Dutch investors prepare to offer €675 million for Royal Ten Cate

摘要

A consortium of Dutch investors is preparing a bid for the entire shareholding of Royal Ten Cate NV. Royal Ten Cate of Almelo, The Netherlands, says it has reached a conditional agreement with Tennessee Acquisition BV concerning the offer price of €24.60 (cum dividend) in cash for each share. The offer price: represents a premium of 26.8% on the closing price for TenCate's shares on 17 July 2015 and a premium of 27.1% on the average closing price for the 12 months prior to and including 17 July 2015; values the company at approximately €675 million.