ONE 08/27 15:58 Maurel & Prom: PLANNED MERGER BETWEEN MAUREL & PROM AND MPI
BN 08/27 16:02 *MAUREL & PROM: DEAL PRESENTATION AUG. 28 AT 10AM PARIS TIME
BN 08/27 16:02 *INDICATIVE PARITY TAKES INTO ACCOUNT €45C/MPI SHR SPECIAL DIV
BN 08/27 16:01 *MAUREL & PROM: INDICATIVE PARITY TAKES INTO ACCOUNT DIV OF €45C
BN 08/27 16:01 *MPI HOLDERS TO GET 1 MAUREL & PROM SHR FOR 2 MPI SHRS
BN 08/27 16:00 *MAUREL & PROM TO ABSORB MPI
BN 08/27 15:59 *MAUREL MPI HOLDERS WOULD GET 1 MAUREL & PROM SHR FOR 2 MPI SHRS
BN 08/27 16:02 *MAUREL & PROM: DEAL PRESENTATION AUG. 28 AT 10AM PARIS TIME
BN 08/27 16:02 *INDICATIVE PARITY TAKES INTO ACCOUNT €45C/MPI SHR SPECIAL DIV
BN 08/27 16:01 *MAUREL & PROM: INDICATIVE PARITY TAKES INTO ACCOUNT DIV OF €45C
BN 08/27 16:01 *MPI HOLDERS TO GET 1 MAUREL & PROM SHR FOR 2 MPI SHRS
BN 08/27 16:00 *MAUREL & PROM TO ABSORB MPI
BN 08/27 15:59 *MAUREL MPI HOLDERS WOULD GET 1 MAUREL & PROM SHR FOR 2 MPI SHRS
Maurel & Prom to Absorb MPI, See Substantial Synergies, Savings
2015-08-27 16:19:20.251 GMT
By Gaurav Panchal
(Bloomberg) -- Maurel & Prom, MPI boards agree to merge via
absorption of MPI by Maurel & Prom, with MPI shareholders
getting one Maurel & Prom share for two MPI shares.
* Based on Aug. 27 close price of Maurel & Prom, indicative
offer values MPI at EU2.345/shr, or EU270.4m
* MPI shrs close at EU2.52/shr
* Definitive exchange parity proposed to shareholders of MPI,
Maurel & Prom to be decided at next meeting of Maurel & Prom
and MPI boards in mid-Oct.
* Indicative parity takes into account payment of an
exceptional div. of EU45c per MPI share
* Merger must be approved by general shareholders’ meetings of
both companies in Dec., with retroactive effect from Jan 1
* Savings/Synergies:
* Cos. see substantial cost synergies and tax savings
* Says would have represented EU14.5m for 2014 on a pro
forma basis, of which EU12m in tax savings and EU2.5m in
operating expenses corresponding to listing, structural
and management costs of MPI
* Deal presentation at 10am Paris on Aug. 28
* Link: http://edge.media-server.com/m/p/m8wepxjk/lan/en
* Statement:Link
Link to Company News:{MAU FP <Equity> CN <GO>}
Link to Company News:{MPI FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Gaurav Panchal in London at +44-20-3525-0511 or
gpanchal2@bloomberg.net
To contact the editor responsible for this story:
Brian Lysaght at +44-20-3525-7908 or
blysaght@bloomberg.net
2015-08-27 16:19:20.251 GMT
By Gaurav Panchal
(Bloomberg) -- Maurel & Prom, MPI boards agree to merge via
absorption of MPI by Maurel & Prom, with MPI shareholders
getting one Maurel & Prom share for two MPI shares.
* Based on Aug. 27 close price of Maurel & Prom, indicative
offer values MPI at EU2.345/shr, or EU270.4m
* MPI shrs close at EU2.52/shr
* Definitive exchange parity proposed to shareholders of MPI,
Maurel & Prom to be decided at next meeting of Maurel & Prom
and MPI boards in mid-Oct.
* Indicative parity takes into account payment of an
exceptional div. of EU45c per MPI share
* Merger must be approved by general shareholders’ meetings of
both companies in Dec., with retroactive effect from Jan 1
* Savings/Synergies:
* Cos. see substantial cost synergies and tax savings
* Says would have represented EU14.5m for 2014 on a pro
forma basis, of which EU12m in tax savings and EU2.5m in
operating expenses corresponding to listing, structural
and management costs of MPI
* Deal presentation at 10am Paris on Aug. 28
* Link: http://edge.media-server.com/m/p/m8wepxjk/lan/en
* Statement:Link
Link to Company News:{MAU FP <Equity> CN <GO>}
Link to Company News:{MPI FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Gaurav Panchal in London at +44-20-3525-0511 or
gpanchal2@bloomberg.net
To contact the editor responsible for this story:
Brian Lysaght at +44-20-3525-7908 or
blysaght@bloomberg.net