EDF could reach the month of May to be delisted
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(News Bulletin 247) – The Autorité des marchés financiers will reopen this public offer for at least 10 days if the Paris Court of Appeal confirms the compliance decision which was issued at the end of 2022.

The Financial Markets Authority (AMF) will “provisionally close” the State’s takeover bid for EDF’s capital, after the withdrawal of small shareholders from an emergency procedure aimed at delaying the closing of this takeover bid, said a representative of the AMF on Wednesday during a hearing at the Paris Court of Appeal.

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If the judgment rendered on the merits, expected by May 2 at the latest, confirms the decision of conformity of the offer rendered by the AMF, the offer will be reopened for at least ten days so that the shareholders can tender their shares, we said from the same source. This provisional closure should allow the payment of money to certain shareholders who have already tendered their shares without waiting for the outcome of these legal proceedings aimed at raising the price offered by the State.

During the hearing, all of the applicants withdrew this procedure for the stay of execution of the takeover bid, aimed at delaying its implementation pending the examination of a procedure for annulment on the merits, scheduled for March 23.

They obtained confirmation of the “commitments” of the State not to complete the renationalization by proceeding to the compulsory withdrawal of the remaining titles to be acquired before the Court of Appeal has ruled on this procedure on the merits.

“These state commitments are exactly what we wanted,” said Martine Faure, leader of the rebellious small shareholders of EDF, who have been contesting for several months, through legal proceedings all azimuths, the terms of the takeover bid launched by the State to be sole master on board EDF.

They believe that the redemption price, currently set by the State at 12 euros, is insufficient.

(With AFP)