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

* 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

Source text for Eikon:

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($1 = 3.9416 zlotys) (Gdynia Newsroom)