VDL Groep makes public offer for Neways
VDL Groep B.V. (VDL) has announced that it will be making a public offer for all issued and outstanding shares in the capital of EMS provider Neways Electronics International.
The public offer amounts to EUR 13.00 per Neways share, payable in cash (cum dividend). The offer represents a significant premium of 19.3% compared to the closing price of the Neways share on April 29, 2021 (the last trading day before the first announcement of the consultation between VDL and Neways regarding a public offer) and a significant premium of 38.9% over the 3-month VWAP as of that date, a press release from VDL states. The majority of shareholders outside VDL has already declared willingness to offer their shares for the offer price (together with VDL approximately 70% of the shares). With the public offer, VDL also gives the remaining approximately 30% of Neways shareholders the opportunity to accept the public offer.