Plus   Neg

Elliott Confirms Offer To Buy ARYZTA, Financing Availability, Refinancing Arrangements

Elliott Advisors (UK) Limited, in response to press speculation, confirmed Monday its offer to acquire Swiss bakery business Aryzta AG (ARZTY.PK,ARZTF.PK).

The company also confirmed that the financing of the potential offer is available and that refinancing arrangements for its existing debt are at a very advanced stage.

In a statement, Elliott said it has made a proposal on November 18 to Aryzta Board of Directors to potentially acquire all the outstanding shares for an indicative price of 0.80 Swiss franc per share.

There was also press speculation regarding the financing for such an acquisition and the refinancing of the company.

The company said it requires the Board of Directors' recommendation of the potential offer and the Company's support to finalise refinancing arrangements.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The United Kingdom's Competition and Markets Authority (CMA) has launched an investigation into technology giant Apple Inc. (AAPL) following complaints that its terms and conditions for app developers are unfair and anti-competitive. iPhone maker Apple also operates the App Store, which is the only... Supermarket chain Kroger Co. on Thursday reported that it posted a loss for the fourth quarter compared to a profit last year, hurt by pension plan withdrawal liabilities. Adjusted earnings per share topped analysts' estimates, while quarterly revenues missed it. However, the company initiated adjusted earning guidance for the full-year 2021, well above analysts' estimates. Retail sales are projected to grow at a potentially record rate during 2021, but the ongoing COVID-19 pandemic remains the biggest challenge for the year, according to the National Retail Federation. "There is no doubt the economy is positioned for growth in 2021, but how much growth comes down to a single non-economic force - the coronavirus," NRF Chief Economist Jack Kleinhenz said.
Follow RTT