Fnac Darty falls to 2-month low on uncertainty over Unieuro bid

Unieuro SpA

25/10/2024 09:53

** Shares of French retailer Fnac Darty  FNAC.PA  are down
3.1%, touching their lowest price since Aug. 13, after tendering
only 41% of Unieuro's  UNIR.MI  share capital 
    ** Midcap analyst Florent Thy-tine tells Reuters the stock
is reacting to the uncertainty over the takeover bid's success
    ** "Investors usually bring in their shares on the last day,
but it's not necessarily good news because they're still a
little way off the minimum threshold," he says
    ** Group is aiming at 66.67% minimum threshold after
lowering it from 90%
    ** Offer is 12 euros per share, closing at 3:30 pm GMT on
Friday

 (Reporting by Gianluca Lo Nostro)
 ((gianluca.lonostro@thomsonreuters.com;))