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Veolia Nabs Suez With Revised Bid Valuing Target At €15B
Law360 (April 12, 2021, 10:43 AM EDT) -- Veolia Environnement will buy French water and waste management group Suez at an equity valuation of about €15 billion, the companies said Monday, bringing to an end more than half a year of contentious back and forth between the competitors.
The deal sees Veolia Environnement SA picking up Suez Groupe SAS for €20.50 per share to acquire the stake in Suez it does not already own, which amounts to about 70% of the company, according to a statement. That's up from the original bid lobbed by Veolia late last year, which was worth €15.50 per Suez share. The Suez board of...