Vivendi takes control of Lagardère – Le Figaro

At the close of the main takeover bid for Lagardère, Vivendi obtains an additional 10.2% of shares to take up 55.43% of the capital and 45.85% of the voting rights. The French media giant Vivendi, parent company of Canal+, Havas and Editis, holds 55.4% of the capital of Lagardère following the first phase of its takeover bid on the group that owns the publisher Hachette and influential media , he announced on Wednesday. Vivendi, which already held 45% of the shares, “takes note with satisfaction” of this result and will reopen its offer from May 27 to June 9 to acquire more shares of the group. Read alsoVivendi opens its management board to branch bosses It maintains its price of 25 euros per share (including the 2022 dividend of 50 cents) until this date. Beyond that, until the end of 2023, shareholders who do not wish to sell their shares now can still sell them during a subsidiary period, but at the lower price of 24.1 euros per share. “The final result of the takeover bid after reopening will be published by the AMF (Autorité des marchés financiers) on June 14, 2022,” Vivendi said in its press release. The outcome of the operation remains subject to the authorization of several authorities, including the European Commission, which could impose “remedies” to validate the marriage between the publishers Editis and Hachette, and Arcom (ex-CSA), which must decide on the takeover of Lagardère’s radio stations (Europe 1, Virgin Radio and RFM). On this last point, Arnaud Lagardère, CEO of the group that bears his name, announced on May 10 a project to retain control of its radios, without giving further details immediately.