Bollore Shares Rise on Buyout Bids Aimed at Simplifying Structure
By David Sachs
Bollore shares jumped after the French conglomerate launched buyout offers for three companies it controls in a bid to streamline its operations.
Paris-traded shares in Bollore were up 7.5% at 6.08 euros in late morning trading Friday.
The multinational corporation, which has interests in the logistics, media and energy industries, said late Thursday that it aims to squeeze out minority shareholders in three investment holding companies: Compagnie du Cambodge, Financiere Moncey, and Societe Industrielle et Financiere de l'Artois.
Bollore offered to pay in cash, shares in Universal Music Group, or a combination of both.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
September 13, 2024 05:18 ET (09:18 GMT)
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