Opening of the simplified tender offer on Tarkett shares
10 Juin 2021 - 7:00PM
Opening of the simplified tender offer on Tarkett shares
Opening of the simplified tender
offer on Tarkett shares
-
Opening of the simplified tender offer (the “Offer”):
from June 10 to July 9, 2021 (inclusive)
-
Offer at a price of €20 per share, unanimously
recommended by the Supervisory Board
- No
reopening of the Offer in accordance with applicable
regulations
-
Offer deemed in the interest of Tarkett, its
shareholders and its employees by Tarkett’s Supervisory
Board
PARIS, FRANCE, June 10, 2021
– Tarkett Participation, a company controlled by the
Deconinck family and in which Wendel invested as minority
shareholder, filed on April 26, 2021 a simplified tender offer (the
“Offer”) on all Tarkett shares at a price
of €20 per share.
The Supervisory Board of Tarkett, which met on
May 20, 2021, unanimously issued its reasoned opinion on the Offer
and stated that it was in line with the interest of the
Company, its shareholders and its employees. This
reasoned opinion has been provided based upon the recommendations
of an ad hoc committee composed of independent board members and
the conclusions of the report of Finexsi, the independent expert
appointed to provide its fairness opinion on the financial terms of
the Offer.
The independent expert has concluded that the
Offer is fair from a financial point of
view (including in the event of a squeeze-out). The
detailed report of the independent expert is available to all
shareholders in the response document of Tarkett which has been
published on June 8, 2021 and which is available on Tarkett’s
website (link) and on the AMF’s website (www.amf-france.org).
The French Autorité des Marchés Financiers (AMF)
provided its clearance decision relating to the Offer on
June 8, 2021 and the opening notice has been published
by the AMF on June 9 for an opening of the Offer on June
10, 2021. The offer document of Tarkett Participation
and the response document of Tarkett have been approved by the AMF
(respectively under No. 21-208 and 21-209). In
accordance with applicable regulations, the simplified tender offer
will close on July 9, 2021 and cannot be reopened following this
22-day offer period. The duration of the offer period
has been determined considering the fact that the Offer will also
be made in the United States, under the conditions described in
Tarkett Participation’s offer document.
Prior to the opening of the Offer, Tarkett
Participation held 55.25% of the share capital and 54.58% of the
voting rights of Tarkett.
Tarkett Participation stated its intention to
implement a mandatory squeeze-out procedure in the event that the
minority shareholders do not hold more than 10% of the share
capital and voting rights of Tarkett following the Offer. In this
event, all Tarkett shares not tendered to the Offer will be
transferred to Tarkett Participation in return for a compensation
equal to the Offer price, i.e. €20 per share. To
facilitate the information of shareholders, Tarkett has dedicated a
section of its website to the Offer (link) and has
sent an information letter to the shareholders
describing the terms and calendar of the Offer. This
letter is also available on the dedicated section of Tarkett
website.
###
About Tarkett
With a history of 140 years, Tarkett is a
worldwide leader in innovative flooring and sports surface
solutions, with net sales of € 2.6 billion in 2020. Offering a wide
range of products including vinyl, linoleum, rubber, carpet, wood,
laminate, artificial turf and athletics tracks, the Group serves
customers in over 100 countries across the globe. Tarkett has more
than 12,000 employees and 33 industrial sites, and sells 1.3
million square meters of flooring every day, for hospitals,
schools, housing, hotels, offices, stores and sports fields.
Committed to change the game with circular economy and to reducing
its carbon footprint, the Group has implemented an eco-innovation
strategy based on Cradle to Cradle® principles, fully aligned with
its Tarkett Human-Conscious Design™ approach. Tarkett is listed on
Euronext Paris (compartment B, ISIN: FR0004188670, ticker: TKTT).
www.tarkett.com
Investor Relations Contact Tarkett –
Emilie Megel – emilie.megel@tarkett.com - Tel.: +33 (0) 41 20 46
39
Media contacts Tarkett - Véronique
Bouchard Bienaymé - communication@tarkett.com Brunswick -
tarkett@brunswickgroup.com - Tel.: +33 (0) 1 53 96 83 83
Hugues Boëton – Tel: +33 (0)6 79 89 27 15Benoit
Grange – Tel +33 (0)6 14 45 09 26
- 2021-06-10-Press Release Opening-Tarkett-OPAS-ENG
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