Takeover bid, mergers, splits, rumours: summer is getting hot on the Brussels Stock Exchange

Numerous operations or projects are underway at the companies listed on Euronext Brussels. They may end in the summer. Overview of actions to watch.

The coming summer promises to be a busy summer for many board members of listed companies Euronext Brussels† Whether it’s a takeover bid, a merger, a spin-off, rumours, lowered forecasts, or simply the half-year results season, investors will need to stay tuned.

And whatever may come…

early April, Euronav

announced its intention to merge with its Norwegian competitor frontline to create the world leader in maritime transportation of petroleum products. But the family doesn’t like this project saveriesthe former owners of Euronav.



But this project does not please the Saverys family, the former owners of Euronav.

Via the CMBacquired Euronav shares on the stock exchange and now have an 18% stake, which is larger than that of FramatownFinance, an entity controlled by John Fredriksenthe reference shareholder of frontilin† At a general meeting held last week, the Saverys got a punch : their proposal to appoint three non-independent directors was rejected.

In late May or even early June, Euronav should reveal the detailed plans for its merger. An extraordinary encounter will then be convened in the coming months to ratify this project. The degree of participation in this GA will be crucial, an analyst said recently, knowing the merger must be approved with 75% of the vote.

A hello to Euronext Brussels

Cornered after another phase III failure of a treatment candidate and as the money melts away, Bone therapy

Now focusing on a Phase IIb clinical trial testing Allob for tibial fractures, has decided to reconcile its fate with that of medsenic

The idea is to allow this French biopharmaceutical, specialized in the development of optimized formulations of arsenic salts and their application in inflammatory diseases, to Euronext Brussels at low cost. Like a cuckoo laying eggs in another nest.

Through a reverse merger, the assets of the two entities will be united within Bone Therapeutics. Medsenic Shareholders Expected to Own 80% from the capital of biotech carolo. The two potential partners are at the stage of exclusive negotiations. An agreement could be reached in the second or third quarter.

The jump of the diaper

Whileontex

lives a real crossing through the desert, rumors about a possible takeover of this specialist in disposable personal hygiene products began to swell. They first mentioned a possible takeover by GBL

its reference shareholder.

On May 11, Ontex acknowledged that preliminary discussions are currently underway with: US industrial partners (AIP) in connection with a transaction that could combine its activities with those from Attindas, a company owned by AIP. Diaper Manufacturer Title: flew 25% on the stock market that day.



As Ontex makes an actual crossing of the desert, rumors of a possible takeover begin to swell.

Will these preliminary negotiations be exclusive or will the parties throw in the towel? Response in the coming weeks, even days.

Umi core activities

At the beginning of May, Bloomberg set fire to the gunpowder and action by signaling that LG Chem studied the acquisition of potential targets, including: Umicore

† What the South Korean chemical giant especially attracts to the Belgian group is its active division in battery components for electric vehiclesthe growth engine of Umicore.

However, the news agency said LG Chem was only in the preparatory phase of its investigation and that no formal approach had been initiated towards Umicore. It has been radio silence ever since. Maybe it was just a test balloon. Or maybe a first dialogue has started…. About Ontexit is GBL with its 16% stake that is in charge at Umicore.

Befimmo of the end?



Axa Belgium and AG Finance, Befimmo’s two largest shareholders, are supporting the operation.

Invested in office buildings while its competitor Cofinimmo strategic shift to nursing homes, Befimmo

is the target of the Canadian real estate fund Brookfield† Via, its subsidiary RE Invest Belgiumhe announced at the end of February, its intention to launch a voluntary takeover bid on the SIR at a unit price of EUR 47.5, which represents a 51.8% premium compared to the previous day’s closing price.

Axa Belgium and AG Finance, Befimmo’s two largest shareholders support the operation. The press release published on this occasion does not state whether the bidder has decided to: launch a withdrawal offer at the end of the operation, which would be the last word before its mention. The takeover bid has not yet been launched. On May 6, the planned merger received the approval of the Belgian competition authority.

Agfa’s imprimatur

Having already sold the Healthcare division to 975 million euros in 2020, Agfa

would try to sell, this time, its “offset” pole active in the field of printing. According to sources not confirmed to the company, the sale process is already at an advanced stage.

The exercise promises to be difficult. If this division alone generates a little less than half of the group’s income, profitability isn’t really there. It has only shown itself to be profitable again since the first quarter of this year.

In this context, the big question is how much Agfa could earn from this sale.

And an eagle landed on the acacia



Acacia Pharma will therefore probably leave the Brussels Stock Exchange through the back door.

Listed since March 2018 on Euronext Brussels, the Anglo-American biopharmaceutical Acacia Pharma

has developed an antiemetic and a short-term sedative for hospitals. In order to ensure the financing of its activities to the break-even point, without further diluting its shareholders, it has entered into an agreement with Eagle Pharmaceuticals.

The latter will shortly make an offer for Acacia at a price of EUR 0.9 per share in cash and securities. Acacia will therefore probably leaves the Brussels Stock Exchange through the back door when the IPO price was set at 3.6 euros at the time.

At Elia, the electricity flows with the market

Last week, Elijah

has received the green light from its shareholders to raise 600 million euros by July 2023. Will the electricity grid operator in Belgium take the risk of waiting to recruit investors and fill his coffers with his action that hits the peaks?

600 million

euros

Last week, Elia received the green light from its shareholders to raise 600 million euros by July 2023.

An analyst recalled in this regard that Elia’s last capital increase with allocation rights, in 2019, was launched two weeks after the meeting. To continue or not?

UCB stopped by the bimé

The promotion is on May 13th UCB

fell by nearly 15% after the totally unexpected announcement of another slowdown in the marketing, in the United States, of the bimzelx (trade name for bimekizumab, or “bime”) a treatment against psoriasis in adults. The magnitude of the fall is explained by the great hopes placed on this drug, which could reach as far as a turnover peak of 2.9 billion euros all indications, according to an analyst.

The extent of this delay caused by FDA comments has yet to be determined. According to some observers, this should range from six months to a year, or even a little more. UCB therefore announced on the same day that it would revise its full-year financial forecasts† It is not yet clear from the pharmaceutical group when this review will appear.

And as if that wasn’t enough…

And if that wasn’t enough, it should also be counted on the half year earnings season which starts on July 19 with that of barco† You can already put it in your agenda from Elijah (July 27), from SolvaydAB InBev and from Cofinimmo on July 28, that of Proximusfrom Umicoreby GBL and from Engie on July 29, that of bpost (August 4), by Aedifica (August 5), from Ageas (August 10) and KBC (August 11).

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