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Darty board gives Fnac takeover offer the green light


The Telegraph

The board of white goods retailer Darty has recommended that its shareholders approve a 170p-per-share takeover offer from French retailer Fnac, in a move which could signal the end of a long-running bidding war.

Darty’s board said that the terms of Fnac’s offer were “fair and reasonable”, adding: “In evaluating the Fnac offer, the board of Darty has considered various aspects, including execution risk, and considers the final offer to represent a superior offer for Darty shareholders, as compared to other offers.”


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