Brief: FERRO management says price in PALMYRA's tender offer does not reflect fair value

Ferro SA

23/02/2016 08:38

Feb (Reuters) - FERRO SA  FROP.WA : 
    * Said on Monday its management issued opinion concerning 
tender offer for all 21,242,655 company's shares announced by 
PALMYRA SP. z o.o.  urn:newsml:reuters.com:*:nFWN15I02L  
    * PALMYRA's parent company is IK VII fund supported by IK 
Investment Partners Ltd. (IK Investment Partners) 
    * Its management said that the tender offer is consistent 
with the interests of the company  
    * Management said it sees IK Investment Partners as a 
valuable strategic partner that could support the development of 
the company in the future 
    * Once the offer is completed and IK Investment Partners 
reaches appropriate number of shares in the company, plans to 
take steps to re-materialize and withdraw FERRO's shares from 
trading on the Warsaw Stock Exchange 
    * The company's management asked Trigon Investment Banking 
Sp. z o.o. i Wspolnicy Spóka Komandytowa for assessment if the 
price in tender offer corresponds to the fair value of Ferro  
    * The price in the tender offer is 10.50 zloty per one 
FERRO's share and management said it does not reflect the fair 
value of the company  
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM2225032 
     
 Further company coverage:  FROP.WA   
    
 
 
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