The honorary chairman of Engie and Suez signifies his total opposition to Veolia's takeover of Suez and explains why.
Veolia has proposed to buy back most of Engie's stake in Suez, then to launch a takeover bid for 100% of the capital to merge the two groups and create a French champion.
What should we think of this project?
For four years, I have refrained from any public expression, both on Engie and on Suez.
As honorary president of these two companies, I must say what I think today.
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I am not a priori opposed to mergers.
I made six.
Two Franco-French Suez / Lyonnaise des Eaux and Suez / Gaz de France.
And four cross-border mergers with Société Générale de Belgique, then Tractebel, Electrabel and International Power.
Why does the Veolia / Suez merger seem dangerous to me?
First of all, the six mergers carried out were all friendly.
Veolia's approach is hostile.
Suez's Board of Directors does not
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