Sazerac Offers €5.55/Share in Bid to Acquire Germany’s Berentzen
Sazerac’s Takeover Bid for Berentzen: Details and Implications
Overview of the Acquisition Offer
Sept 21 (Reuters) - US spirits maker Sazerac on Monday launched a takeover offer for all shares of beverage firm Berentzen for €5.55 ($6.37) apiece, which is supported by Berentzen's supervisory and executive boards.
Background on Berentzen and Sazerac
Berentzen’s Position in the Market
The German schnapps maker confirmed talks over a potential takeover by privately held Sazerac on Thursday. The Louisville, Kentucky-based company has been focused on buying young brands and underperforming labels from large conglomerates to expand beyond its domestic market.
Share Price and Delisting Plans
On Friday, Berentzen closed at €4.53 per share. The company is to be delisted following the acquisition, which Sazerac expects to close during the fourth quarter.
Exchange Rate Information
($1 = 0.8715 euros)
Reporting Credits
(Reporting by Tristan Veyet in Gdansk, editing by Milla Nissi-Prussak)
