Opdenergy soars after Antin offers to buy co

Opdenergy Holding SA

12/06/2023 08:41

** Shares in Opdenergy  OPDE.MC  rise 43% after France's
Antin Infrastructure  ANTIN.PA  offered to buy the Spanish firm
for 866 million euros ($931 million)
    ** Antin offers 5.85 euros per Opdenergy share, which
represents a 46% premium to Friday's closing price and is 23%
more than the price of the IPO in July 2022
    ** Sabadell analysts say the news is positive for the stock 
as the premium is very significant, which could mean prices are
depressed relative to what a private investor might be willing
to pay
    ** Renta 4 recommends the takeover bid, noting Antin already
has secured the support of more than 71% of the capital with the
three main shareholders - Marearoja Internacional, Aldrovi,
Jalasa Ingeniería - and Opdenergy's CEO Luis Cid
    ** "As being a friendly takeover bid, we do not see the
possibility of competing takeover bids and our recommendation is
to go for it," Bankinter analysts also say
    ** About 352,300 shares of the company have traded so far on
Monday, representing 887.7% of their 30-day moving average
full-day volume
    ** The shares are on track for their best day ever
    ** Antin shares are down 0.2%

($1 = 0.9301 euros)

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))