Press Statement
Grünwald, 5. August 2019 – EPGC held open and constructive discussions with the main shareholders Meridian Stiftung and Beisheim Holding about their potential support of the tender offer by EPGC. Although EPGC was exploring several alternatives with the two shareholders, it became clear during the discussions that EPGC and the two shareholders have different views on the valuation of METRO and therefore unfortunately the parties did not find a common ground for an agree-ment under which the two shareholders would support the offer.
EPGC appreciates the tone and atmosphere of the discussions and regrets that they were not successful but continues to believe that the offer represents a unique opportunity for all shareholders to exit at an attractive price and in EPGC’s view includes a significant premium to the current fundamental value of METRO. EPGC also continues to believe that the company itself would significantly benefit from a simplified shareholder structure under clear leadership with a long-term strategic view to help METRO to successfully complete the necessary transformation in the challenging market environment.
EPGC confirms that it will neither increase the offer price, nor lower the minimum acceptance threshold, nor otherwise amend the offer. The acceptance period for the offer expires on 7 August 2019.
Grünwald, 5. August 2019 – EPGC held open and constructive discussions with the main shareholders Meridian Stiftung and Beisheim Holding about their potential support of the tender offer by EPGC. Although EPGC was exploring several alternatives with the two shareholders, it became clear during the discussions that EPGC and the two shareholders have different views on the valuation of METRO and therefore unfortunately the parties did not find a common ground for an agree-ment under which the two shareholders would support the offer.
EPGC appreciates the tone and atmosphere of the discussions and regrets that they were not successful but continues to believe that the offer represents a unique opportunity for all shareholders to exit at an attractive price and in EPGC’s view includes a significant premium to the current fundamental value of METRO. EPGC also continues to believe that the company itself would significantly benefit from a simplified shareholder structure under clear leadership with a long-term strategic view to help METRO to successfully complete the necessary transformation in the challenging market environment.
EPGC confirms that it will neither increase the offer price, nor lower the minimum acceptance threshold, nor otherwise amend the offer. The acceptance period for the offer expires on 7 August 2019.
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