Suez is looking for a way out in the conflict that has pitted it against its rival Veolia for months.
The latter, which already owns 29.9% of Suez, has filed a takeover bid at 18 euros per share.
Fiercely opposed to this hostile offer, the board of directors met on Saturday evening to try to find a solution.
The group chaired by Philippe Varin proposes to agree to a public offer, but places important conditions on it.
First, Suez asks Veolia to raise its price to 20 euros per share;
then, it demands that Veolia retrocede to the consortium bringing together the Ardian and GIP funds assets representing a turnover of 9.1 billion euros.
If Veolia accepts these conditions, Suez will recommend its takeover bid.
To read also: Philippe Varin: "The council of Suez would agree to receive Antoine Frérot if Veolia modified its offer"
The consortium proposes to pay for these assets for an enterprise value of 15.8 billion euros, which corresponds, according to Suez, to 20 euros per share.
Not sure that this offer arouses great enthusiasm from Veolia.
The concessions requested are in fact
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