Suez's board of directors has just set its conditions for accepting a takeover bid from rival Veolia.
The latter should on the one hand increase its price from 18 to 20 euros per share, on the other hand retrocede assets realizing 9.1 billion euros in turnover, out of a total of 17.2 billion.
Philippe Varin, the president of Suez, explains why he considers this compromise good for all parties.
Le Figaro. - Why did you decide to send a project to Veolia?
Philippe VARIN. -
For six months, two French companies, two global giants clash and tear each other apart, because of Veolia's hostile offensive.
It is an unprecedented situation, of incredible aggressiveness.
We are at an impasse for three reasons: the price of 18 euros per share offered by Veolia is far too low.
Then, the decisions of the 22 competition authorities will lead to the dismantling of Suez.
Finally, we consider the social guarantees insufficient, even if the answers
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