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Atlantia's board deems Benetton-Blackstone's takeover offer fair

Published 10/05/2022, 06:57 AM
Updated 10/05/2022, 07:02 AM
© Reuters. FILE PHOTO: A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018.  REUTERS/Alessandro Bianchi/File Photo
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MILAN (Reuters) - Italy's infrastructure group Atlantia regards the share price in the tender offer announced by Edizione and Blackstone (NYSE:BX) as fair from a financial point of view, it said on Wednesday.

Italy's Benetton family and U.S. investment fund Blackstone announced in April a 58 billion euro ($58 billion) buyout offer for Atlantia, to take it private and stave off rival interest for the airport and motorway operator.

They are offering Atlantia's investors 23 euros per share.

© Reuters. FILE PHOTO: A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018.  REUTERS/Alessandro Bianchi/File Photo

Earlier this week the Italian market watchdog cleared the buyout bid prepared by the Benettons, which already owns a 33% stake in the infrastructure group, and the U.S. investment fund.

The offer is set to start on Oct. 10 and end on Nov. 11. ($1 = 1.0063 euros)

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