Club Med takeover highlights the role of independent expertise

L'Agefi reports that the board of directors of Club Méditerranée has approved a proposed offer from Fosun, while the employee representative committee has voted 60% against, fearing that the weight of the acquisition’s debt of 280 million euros, against 230 million euros in the initial offer, would add to the already worrying economic and social situation of the group. Nevertheless, CIAM was able to obtain a re-evaluation of the offer at 24.60 euros per share from the 17 euros initially planned.
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