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Tuesday, March 5, 2024

ANOTHER BID, IF YOU CAN BELIEVE IT

A "mystery" bidder has entered the fold in Believe's quest to go private, raising the possibility of an acquisition for $1.9b—well above the bid from Denis Ladegaillerie's consortium, MBW has reported.

While the new bidder has only inquired about engaging with shareholders about a more attractive offer (€17 per share, vs. Ladegaillerie's EQT/TCV offer of €15 per share), Believe thus far insists that no official offer had been made.

As Tim Ingham details in his story, shareholders have already cleared the way for the consortium to acquire 71.92% of Believe. The only hurdle left is getting anti-trust approval from French regulators.

But if regulators disapprove of Ladegaillerie's consortium and their quest to take Believe private, perhaps shareholders would like to explore who and what the mystery bidder has to offer.

TAGS: Denis Ladegaillerie | Believe | France | distribution
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