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November 29, 2024 | CicorEstimated reading time: Less than a minute
Cicor Group announced that its major shareholder, OEP 80 B.V. (OEP), has converted its Mandatory Convertible Notes (MCN). As a result, OEP now holds 41.01% of Cicor's shares, triggering a mandatory public takeover offer to all other Cicor shareholders within two months.
OEP intends to make the mandatory offer at or close to the minimum price, which is currently set at CHF 54.35 per share. This minimum price is based on the 60-day volume-weighted average price (VWAP) prior to the mandatory offer announcement. The final offer price will be determined on the publication date of the mandatory offer and is expected to change.
Cicor's Board of Directors will review the mandatory offer and is currently inclined to recommend rejecting it. However, the final decision and reporting on this remain reserved.
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