Tarkett Participation Announces Public Buy-Out Offer
Tarkett Participation, the main shareholder of Tarkett, has recently announced plans for a public buy-out offer. This move aims to acquire the remaining shares of Tarkett that it does not yet hold. The company is well-known for its commitment to innovative floor covering solutions and sustainable designs.
Offer Details and Premium
The public buy-out offer is set at a competitive price of 16 euros per share. This price reflects a significant premium of 32.3% and 37.5% over the volume-weighted average share price during the last 20 and 60 trading days, respectively. Additionally, the offer price is 18.1% higher than the last closing price prior to the announcement.
Support from Supervisory Board
Following the preliminary review by an ad hoc Committee, the Supervisory Board of Tarkett has unanimously supported the proposed buy-out offer. This committee consists predominantly of independent members, ensuring an unbiased evaluation of the offer.
The decision of the Supervisory Board took place in a special meeting where they welcomed the recommendation made by the ad hoc Committee. This careful examination underscores the importance that Tarkett places on transparent and responsible governance.
Financial Considerations and Expert Appointment
Tarkett Participation guarantees that it has the necessary financial means to realize this buy-out. The company possesses ample equity capital and access to credit lines to support the offer effectively.
Moreover, Tarkett Participation appointed Finexsi - Expert & Conseil Financier as an independent expert. Their responsibility is to provide a fairness opinion on the financial terms of the proposed buy-out, ensuring that all parties involved can trust the offer's legitimacy and fairness.
Future Steps and Timetable
The Offer will be submitted for clearance to the relevant regulatory authority and is expected to unfold within early next year. Should the authority approve, the buy-out is anticipated to take place around April 2025. Following the completion of the buy-out, a squeeze-out procedure will be initiated for minority shareholders, particularly if they collectively hold less than 10% of the company’s shares.
Tarkett's Commitment to Shareholders
Tarkett Participation confirms that it aims to conduct this process with respect to all shareholders regardless of their location, maintaining adherence to applicable regulations. This inclusive approach ensures that all stakeholders can engage in the buy-out without encountering unnecessary barriers.
About Tarkett
Tarkett has established itself as a leader in the flooring industry with a rich history spanning over 140 years. With an annual turnover of approximately 3.3 billion euros, the company employs nearly 12,000 individuals and operates in more than 100 countries. Their innovative flooring solutions cater to various environments, from schools to hospitals and residential spaces.
Frequently Asked Questions
What is the public buy-out offer price per share?
The public buy-out offer is set at 16 euros per share.
What premium does this offer represent?
The offer represents a premium of 32.3% and 37.5% over the average share prices during the last 20 and 60 trading days respectively.
Who supports the public buy-out offer?
The offer has received unanimous support from Tarkett's Supervisory Board, based on recommendations from the ad hoc Committee.
When is the buy-out offer expected to take place?
The buy-out offer is anticipated to occur around April 2025, pending regulatory approval.
How has Tarkett Participation prepared for this offer?
Tarkett Participation has assured that it possesses sufficient equity capital and credit lines to finance the offer.
