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Issue 2 2021 - PPG raises Digurila's purchase price

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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PPG raises the purchase price of Dhigurilla

On January 5, PPG and Tikkurila Oyj jointly announced that they signed a new agreement to modify
the previously announced merger agreement.
As a result of the revisions, PPG increased its offer to Digurila from €25 to €27.
75 per share, and the total purchase price increased from €1.
1 billion to €1.
24 billion (including debt).

According to the new announcement, the reason for raising the offer was that Digurila had received a proposal for a competitive offer, but no details
were given in the announcement as to where the competitive proposal came from and what was competitive.
Following PPG's increase in the purchase price, Digurila's Board of Directors unanimously decided to recommend that its shareholders accept the new offer; Some of the major shareholders reiterated their support for the transaction
.
The companies expect the tender offer for all outstanding shares to commence around January 15, at which point PPG will issue a detailed tender offer document and then implement the acquisition within two months, unless an extension is required by the impediment to progress
.
Therefore, the parties expect to complete the acquisition in the second quarter
of 2021.

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