Solvay’s Bid on Rhodia: 24 August as Closing Date
Solvay and Rhodia announced that the European Commission has approved the acquisition of Rhodia by Solvay today. Following this approval, the French Financial Markets Authority AMF has set the closing date of the friendly public takeover bid on Wednesday 24 August 2011 (included). Solvay offers EUR 31.60 per Rhodia share and EUR 52.30 EUR for the OCEANE convertible bonds.
As all prerequisite authorizations for the offer are obtained, the execution of the offer is solely subject now to a minimum acceptance level of 50% plus one share on a fully diluted basis.
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