(Reuters) – Fnac Darty on Friday confirmed the terms of its takeover bid for Italian consumer electronics distributor Unieuro.
The French retailer has offered 9 euros ($9.75) in cash and 0.1 newly issued ordinary Fnac Darty share for each Unieuro share, which represents a 42% premium to the unaffected share price, the group said in a statement.
The tender period is set to close on Friday at 1530 GMT. However, a potential reopening may occur between Nov. 4 and Nov. 8 if Fnac’s stake remains under 90% by the end of the tender period, or if Unieuro decides to raise the minimal required threshold, the French group said.
Fnac Darty had announced in July it offered to buy Unieuro for around 249 million euros ($271 million) to create a market leader in consumer electronics and domestic appliances in southern and western Europe.
Fnac Darty said the merged company would aim for over 10 billion euros ($10.94 billion) in annual sales, and have around 30,000 employees as well as more than 1,500 stores.
(Reporting by Alban Kacher, Editing by Louise Heavens)
