"We acknowledge that part of the market considered the Offer to be inferior to its expectations" but "those who have decided to keep their shares having read the reasons for the offer, means that they share our vision and its execution; therefore from tomorrow we will all work to get an operation that I hope and hope will be very successful in the necessary time ".
The Della Valle family says this by explaining that the takeover bid launched by its Deva Finance on Tod's will not be perfected because the subscriptions allow you to go up to only 86.95% of the capital and not at least 90% (including 10% in the hands of Lvmh through Delphine), a threshold set as a condition of effectiveness and which we do not intend to give up now.
It had already been proposed,
In the meantime, the tender offer will therefore not be completed and the shares submitted in acceptance of the offer will be returned and re-entered into the availability of their respective holders within today's trading day.
At the opening of the market, Tod's shares, after having struggled to make a price and remained stuck in the pre-opening auction, in the first trades changed hands with a decrease of more than -20%, hitting the lows of 31, and then euro per share. partially recover.
Thus the value of the securities at the opening of Piazza Affari returned to around the levels it had at the time of the launch of the takeover bid by Deva Finance, which failed due to not having reached the minimum threshold of subscriptions envisaged as a condition of effectiveness
