Launch of the Simplified Public Tender Offer on Vilmorin & Cie shares
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On June 20, 2023, the Autorité des marchés financiers (AMF) declared the Simplified Public Tender Offer initiated by Limagrain Participations2 (the “Initiator”) on Vilmorin & Cie shares compliant and published a notice to launch the Offer for a period running from June 22, 2023, to July 17, 2023, inclusive. Limagrain’s Information note and Vilmorin & Cie’s Response note, as approved by the AMF on June 20, 2023 (visas n°23-234 and 23-235), are available on the websites of the AMF (www.amf-france.org), Vilmorin & Cie (www.vilmorincie.com/fr) and Limagrain (www.limagrain.com).
The Offer price of €62.60 per share was established by applying a multi-criteria valuation approach and reflects in particular a premium of 45.4% over the last closing share price prior to the announcement of the Offer on April 27, 2023, and a premium of 36.7%1 over the average volume-weighted share price for the last 60 trading days prior to the announcement of the Offer.
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It should be noted that Vilmorin & Cie’s Board of Directors established an ad hoc committee made up exclusively of Directors with no tied to the Initiator in order to supervise the work of the independent expert and propose to the Board of Directors a reasoned opinion project on the Offer. In addition and in compliance with article 261-1 of the AMF’s general regulations, Vilmorin & Cie’s Board of Directors appointed the Cabinet Finexsi as the independent expert to produce a report on the financial terms of the Offer and a potential mandatory withdrawal. The independent expert has concluded that the terms of the Offer are fair to the Company’s Shareholders, including in the context of a mandatory withdrawal.