Rothschild & Co (ROTH.FR) shares jumped over 17.0% on Monday on news that Concordia, the holding company of the powerful Rothschild family and Rothschild & Co's largest shareholder, announced that it planned to issue an offer for the remaining shares of the financial services group at €48.0 per share with dividends attached and eventually taken the company off the Paris stock exchange
The Rothschild family currently owns 38.9% of the firm’s shares and 47.5% of the voting rights.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app"Each of the businesses is better assessed on the basis of their long-term performance rather than short-term earnings. This makes private ownership of the group more appropriate than a public listing," Concordia wrote.
Under the proposal, shareholders would also receive an ordinary dividend of €1.4 per share, and a potential "exceptional distribution" of €8.0 per share should the offer be filed.
Rothschild & Co (ROTH.FR) stock launched today's session with a massive bullish price gap and hit a new all-time high at €47.50, slightly below the simplified tender offer at €48.00. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
