HORNBACH Baumarkt AG: Management Board and Supervisory Board Recommend Accepting the Public Delisting Offer of HORNBACH Holding AG & Co. KGaA
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF SUCH JURISDICTIONOne Group - One ListingJoint reasoned opinion of the Management Board and …
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF SUCH JURISDICTION
One Group - One Listing
- Joint reasoned opinion of the Management Board and Supervisory Board of HORNBACH Baumarkt AG published
- Management Board and Supervisory Board consider the offer price to be appropriate and to reflect the fair value of the HORNBACH Baumarkt share
- Management Board and Supervisory Board recommend that shareholders accept the public delisting offer of € 47.50 in cash per share
- The acceptance period ends on February 22, 2022 at midnight (CET)
BORNHEIM (PALATINATE), GERMANY / ACCESSWIRE / January 24, 2022 / The Management Board and Supervisory Board of HORNBACH Baumarkt AG ("HORNBACH Baumarkt") published their joint reasoned opinion on the public delisting offer of HORNBACH Holding AG & Co. KGaA ("HORNBACH Holding") to all shareholders of HORNBACH Baumarkt on Friday, January 21, 2022. HORNBACH Holding is the parent company of the HORNBACH Group. HORNBACH Baumarkt is the largest operating subgroup (DIY retail) of HORNBACH Group, which operates a total of 167 outlets and online shops in nine European countries as of November 30, 2021.
The Management Board and Supervisory Board of HORNBACH Baumarkt are of the opinion that the delisting is in the best interests of the HORNBACH Group. After careful and independent review of the offer document published on January 14, 2022, they support the public delisting offer of HORNBACH Holding. The Management Board and the Supervisory Board consider the offer price of € 47.50 in cash per HORNBACH Baumarkt share to adequately reflect the value of the HORNBACH Baumarkt share.
"We support the public delisting offer of HORNBACH Holding and recommend all Baumarkt shareholders to accept the offer and tender their shares. The offer is financially attractive and in the best interests of HORNBACH Baumarkt, its employees and business partners," says Erich Harsch, CEO of HORNBACH Baumarkt.
Against this background, HORNBACH Baumarkt will now apply for the revocation of the admission of HORNBACH Baumarkt shares to trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in due course.
The joint reasoned opinion of the Management Board and Supervisory Board of HORNBACH Baumarkt is available on the company's Investor Relations website.
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Printed copies of the joint reasoned opinion are also available free of charge from HORNBACH Baumarkt AG, Investor Relations, Hornbachstraße 11, 76879 Bornheim, Germany, invest@hornbach.com.