Club Med offer period could be prolonged; Fosun expected to improve EUR 22 per share offer
French stock market regulator AMF is expected to prolong the offer period for listed French holiday resorts operator Club Med after the EUR 23 per share improved offer submitted by Italian financier Andrea Bonomi and its Global Resorts acquisition vehicle, French newsletter Wansquare reported.
The report, which did not reveal its source of information, said that while Bonomi was hoping that the end of the offer period for Club Med, currently set to 20 November 2014, would remain unchanged, AMF could prolong it by a few additional days.
According to the report, Chinese investment fund Fosun is believed to be preparing another counter-bid and would improve the EUR 22 per share offer it has already submitted for Club Med. Fosun already owns a 18% shareholding in Club Med, the report noted.
Source WanSquare