French water and wastewater treatment company Suez said on Tuesday that it would do everything possible to avoid being taken over by rival Veolia, after the latter managed to buy a 29.9 percent stake in the company and put out an offer to buy the remaining shares.
“Suez learned about the purchase of 29.9 percent of Veolia capital in an aggressive manner and under unprecedented and unfamiliar circumstances,” Suez said in a statement.
“The company affirms that it will use all means in its power to protect the interests of its employees, its customers and all its shareholders, especially to ensure fair and equal treatment of all its shareholders, and to avoid eavesdropping for acquisition or actual control,” she added.
On Monday, Veolia said it would place an offer of 18 euros per share, the same price it had offered to the electric company Inge, to buy a 29.9 percent stake in a deal that would value Suez at around 11.2 billion euros ($ 13.20 billion).
The company added that it wanted to resume discussions with Suez after it pledged that it would not submit its offer until approval by the Suez Board of Directors.
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