Believe Board Issues Favorable Opinion on Takeover Offer
Music company Believe announced that its board has unanimously issued a favorable, reasoned opinion on a takeover offer. The offer is deemed to be in the interest of the company, its employees, and shareholders.
Paris – Music technology company Believe announced on April 19, 2024, that its board of directors has unanimously issued a favorable and reasoned opinion on a public takeover offer for the company.
The board concluded that the offer is in the best interest of the company, its employees, and its shareholders. It specifically noted that the offer benefits minority shareholders wishing to exit, providing them with immediate and full liquidity at a significant premium compared to relevant market prices.
The board also considered the interests of shareholders who wish to remain invested in the company's future. These shareholders can retain their stake as the company's listing will continue, though they will remain exposed to associated risks.
The offer was made by a consortium including funds TCV and EQT X, along with the company's founder and CEO, Denis Ladegaillerie. The offer is set at 15 euros per share. The consortium aims to support the company's development strategy and market position through its increased ownership.