The EDF share, suspended on the stock market since July 13 at its request, resumed its quotation on Tuesday and its price jumped by nearly 15%, close to the price proposed by the State as part of its takeover bid. (OPA). Around 9:30 a.m., the stock took 15.11% to 11.77 euros, in a market down 0.75%. The State wishes to acquire the 15.9% of the capital which it lacks at the price of 12 euros per share, according to a press release published by Bercy before the opening of the Paris stock market.
The course had been suspended pending this publication. The price proposed for this takeover bid represents a premium of 53% on the closing stock market price on the day before the announcement of the State's intention to regain 100% of the capital of EDF, and of 34% on the average share price for the 12 months before the announcement, said Bercy. This also corresponds to the high end of analyst estimates for the takeover price, such as those of Jefferies who had anticipated a range of between 10 and 12.50 euros per share.
The State has yet to officially file its takeover bid with the Autorité des marchés financiers, subject to the promulgation of an amending finance law for 2022. The AMF, in a press release on Tuesday, marked the start the pre-offer period of the takeover bid, during which the offeror cannot acquire securities of the target company.