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.
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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
