BRIEF-ACE's board considers GIC's tender offer price not representing fair value

viernes 13 de noviembre de 2015 10:15 GYT
 

Nov 13 (Reuters) - Automotive Components Europe SA :

* Its board of directors gave on Thursday opinion on Grupo Industrial Saltillo SAB de CV (GIC) tender offer for 100 percent of the company as announced on Oct. 27, 2015 bit.ly/1Sp18GI

* In the opinion of the board of directors, the tender offer is in line with the company's interests

* Declarations of the tender caller's management allow the board of directors to expect that the potential takeover will have a positive impact on the company

* Taking into account the intentions stated by GIC, the board of directors is of the opinion that GIS's commitment to ACE is a key step to further developing the company in Poland, Spain and Czech Republic

* However, board of directors concludes that the share price offered by the offeror of 13.5 zlotys per share, does not represent the fair value of the shares from a financial point of view

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($1 = 3.9416 zlotys) (Gdynia Newsroom)