Ayer se publicó en Bloomberg que Elliot iba a lanzar una OPA vinculante...
Elliott Is Said to Make Binding Offer for Swiss Baker Aryzta
Elliott Management Corp. made a firm offer for Aryzta AG and has financing from several lenders for the deal, putting pressure on the Swiss baker’s board to take its $890 million bid to shareholders, according to people familiar with the matter.
Paul Singer’s investment firm tabled its offer Saturday at the same level as the initial proposal of 0.80 francs per share that values the target at about 794 million francs. The offer has financing in place from seven banks, said the people, who declined to be identified because the information isn’t public.
Aryzta, which supplies buns to McDonald’s and makes Otis Spunkmeyer cookies, ended negotiations with Elliott in October and has been working with advisers to explore asset disposals. In making a binding offer, Elliott is pushing Aryzta’s board to discuss the proposal with investors.
A representative for Elliott declined to comment. An external spokesman for Aryzta didn’t reply to phone calls and an internal spokesman didn’t reply to emails seeking comment.
The move adds further impetus to a saga that took an unexpected twist last month when Chief Executive Officer Kevin Toland abruptly left the company. Urs Jordi, recently installed as chairman, has publicly said he doesn’t want to sell.
The firm, once worth more than $9 billion, has lost over 90% of its value since 2014. A pair of disgruntled shareholders own a combined 26% of Aryzta and have been pushing for a turnaround for years.