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.
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