07.05.2018 • NewsHeurteyElaine BurridgeAxens

Axens to Launch Takeover Bid for Heurtey

Axens to Launch Takeover Bid for Heurtey
Axens to Launch Takeover Bid for Heurtey

French engineering, technology and catalysts provider Axens has crossed the necessary 95% threshold in its ownership of Heurtey Petrochem and will now launch a takeover bid for the rival engineering services company.

Axens first bid for Heurtey in December 2016. The Paris-headquartered group said that following the recent acquisition of Heurtey Petrochem shares for €30 per share, it now holds 95.9% of the share capital and 95.7% of voting rights, and will launch a takeover in the coming weeks, as indicated in its initial bid of Dec. 1, 2016. This will be followed by a squeeze-out process for the remaining shares.

Heurtey’s directors will now appoint an independent financial expert who will draw up an opinion on the fairness of the financial conditions of the takeover bid and squeeze-out process. The engineering company, which is also based in Paris, is focused on process furnaces for refining, petrochemicals and hydrogen production. It also has a natural gas treatment business.

The acquisition remains subject to approval by the French stock exchange regulator (AMF).

 

 

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.