Berentzen backs Sazerac’s €5.55-per-share takeover proposal

Berentzen ($BEZ) signed a business combination agreement with Sazerac and supports a planned voluntary cash takeover offer of €5.55 per share. The proposed price represents a premium of approximately 68% to the unaffected three-month volume-weighted average share price, rather than to the most recent closing price. The agreement moves the situation beyond the previously reported takeover discussions.

The proposed offer requires acceptances covering at least 50% of the shares plus one share, alongside other conditions. Completion is envisaged in the fourth quarter, with delisting intended after a successful transaction. The management and supervisory boards’ support remains subject to reviewing the published offer document. Neither the acquisition nor the delisting has been completed.

Sources:

• Berentzen — business combination agreement, EQS disclosure