Europac secures 2.65 mln of 3.05 mln Gescartao shares in buyout offer |
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Published
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Fri, 26 Jan 2007 14:47
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LISBON (AFX) - Spain's Papeles y Cartones de Europa SA said it obtained 2.65 mln of 3.05 mln outstanding shares in Gescartao SGPS in an all-share offer to the paper maker's minority shareholders that closed Tuesday.Europac's 7-for-2 share exchange offer concerned around 15 pct of Gescartao's equity and ran for three weeks.The take-up rate was below the 90 pct of outstanding shares needed to trigger a compulsory buyout.newsdesk@afxnews.comjmsCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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