Havas board approves Bolloré takeover

The Havas board has approved the Bolloré Group's attempt to buy a controlling stake in the company.

Yannick Bolloré: the chairman and chief executive of the Havas Group
Yannick Bolloré: the chairman and chief executive of the Havas Group

At a meeting last week the Havas board reviewed the findings of an independent report into the offer. The report said Bolloré’s offer is fair as it "offers a premium on Havas’s intrinsic value".

The Bolloré Group filed a share exchange offer of nine shares in Bolloré Group for five shares of Havas on 17 October. The offer represents a 19.5 per cent premium on the price of Havas shares prior to the deal being made public.

The "group committee" of Havas employees approved the deal on 27 October.

Following the recommendations of the independent report, the approval of the group committee, and the Bolloré Group’s willingness to support Havas’s future growth, the board decided the offer was in the interest of Havas, its employees and its shareholders.

Yannick Bolloré, the chairman and chief executive of the Havas Group, said: "I am delighted by the positive opinion issued today by the board of directors of Havas. I am also pleased that this offer was favourably welcomed by the group committee.

"The success of this transaction will enable our group to benefit from the support of a long-term shareholder".

Topics

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Share

1 Meet the new breed of ad agency chiefs

A new wave of first-time CEOs are opting to do things differently in an evolving landscape. They discuss the business model of the future with Jeremy Lee.

Case study: How 'This girl can' got 1.6 million women exercising
Shares0
Share

1 Case study: How 'This girl can' got 1.6 million women exercising

"This girl can" was based on a powerful insight: that the fear of judgement by others is the primary barrier holding women back from participating in sport.

Just published

More