(News Bulletin 247) – The majority shareholder has just announced a simplified takeover bid for the seed company with a view to buying back the securities it does not yet hold. When it resumes trading, the Vilmorin share is based on the price of the offer proposed by Limagrain to the minority shareholders.

Resumption of quotation up sharply for Vilmorin. The title of the seed company soared by 45.41% to 62.60 euros to automatically lock in the price of the offer proposed by Limagrain to minority shareholders.

The majority shareholder announced at the end of last week the launch of a simplified takeover bid for the seed company with a view to buying back the securities it does not yet hold.

A listing scheduled for next summer

The majority shareholder will offer a price of 62.60 euros per share, ie a premium of 45.4% compared to the closing price of Thursday, April 27 of 43.05 euros per share. The OPAS represents “a premium of 36.5% compared to the average share price weighted by volumes over the last 60 trading days”, underlines Limagrain in its press release. The offer values ​​Vilmorin & Cie at 1.43 billion euros for 100% of the capital.

Limagrain justifies this operation by the lack of interest presented by Vilmorin’s listing on the stock exchange, which has not appealed to the market since 2010. The shareholder will launch its offer on June 22 for a period of two weeks. If the operation is crowned with success, Vilmorin will exit between mid-July and the beginning of August, according to the indicative timetable for the offer.