Gecina meets unexpected hurdle in acquiring Simco

Although the Board of Directors recommended to accept GecinaÂ's offer in acquiring Simco to its shareholders, an unexpected hurdle turned up.

SimcoÂ's management filed a lawsuit against the CMF (Conseil des Marches Financiers), which approved the deal, on the basis of the NRE (New Economic Regulations Act), which specifically requires that the bidder must reply to questions by staff, on punishment of loosing its right to vote.

(source: Les Echos)

Related News