Story
Sazerac Announces €5.55 Per Share Takeover Bid for Germany's Berentzen
Summary
The U.S. spirits company is offering a significant premium to acquire the German beverage maker, with Berentzen's boards supporting the deal and a planned delisting from the Frankfurt Stock Exchange.
U.S. spirits company Sazerac announced on Monday its intention to launch a voluntary public takeover offer for German beverage firm Berentzen-Gruppe AG at €5.55 per share in cash. The offer, which has the full support of Berentzen's management, includes plans to delist the company upon successful completion of the transaction.
Offer Details
The proposed acquisition price represents a substantial premium of approximately 68% to Berentzen’s unaffected three-month volume-weighted average share price on the XETRA exchange before September 16. The companies released the details in a joint statement, highlighting the value proposition for current shareholders.
The offer is subject to a minimum acceptance threshold of 50% plus one share. According to the statement, no regulatory clearances are required for the transaction, which is expected to close in the fourth quarter of 2026.
AdBoard Support and Future Strategy
Berentzen’s Executive Board and Supervisory Board have both endorsed the offer. The executive board has stated it will formally recommend that shareholders accept the bid once the official offer document is published.
Following a successful acquisition, Sazerac plans to seek a delisting of Berentzen from the Regulated Market (General Standard) of the Frankfurt Stock Exchange. Berentzen's board intends to support this move, subject to its fiduciary duties. Sazerac also affirmed its commitment to continue operating Berentzen’s existing sites and to increase investment in them.
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