Altice Offered

Nigel Thomas
22 Jun, 2015
New York City

European markets soared as negotiators voiced optimism for Greek discussion. Altice offered

[R]4:00 PM Frankfurt – European markets soared as negotiators voiced optimism for Greek discussion. Altice offered €10 billion to acquire Bouygues Telecom. Eurofins agreed to acquire Biomnis for €220 million. Ferrero Intl agreed to acquire additional stake in Thorntons. Spire Healthcare agreed to be acquired by South Africa-based Remgro.[/R]

Market indexes in Europe rebounded and the reference index in Greece soared 7% after German officials said leaders are making progress in finding a solution to Greek bailout.

The latest proposal from Greece was deemed as “reasonable” basis for negotiations but German officials said a detailed agreement is still lacking for the meeting of leaders in Brussels today.

In London trading, FTSE 100 index jumped 1.1% or 74.99 to 6,785.29 and in Frankfurt the DAX index soared 2.6% or 283.73 to 11,323.69.

In Paris, CAC 40 index advanced 2.6% or 116.13 to 4,931.50.

Aggreko Plc gained 1.5% to 1,488 pence after the U.K.-based temperature control solutions provider plans to split its business into two separate divisions, Rental Solutions and Power Solutions and both businesses will focus on specific regions.

Rental Solutions division will focus on developed markets while Power Solutions will increase emerging markets including current Power Projects offerings.

Altice SA surged 15.3% to €132.70 after the France-based telecom company confirmed that it offered to acquire mobile operator Bouygues Telecom through its subsidiary Numericable-SFR for about €10 billion or $11.4 billion in cash.

Bouygues said it will discuss the ""unsolicited offer"" of Altice''s in the board meeting on June 23.

During the weekend, the French billionaire Patrick Drahi, a major stake holder of Altice said it bid Bouygues for $11 billion in cash.

Shares of Bouygues SA soared 13.7% to €38.21 and shares of Numericable SFR SA climbed 14.6% to €54.99.

Eurofins Scientific SE increased 1% to €257.40 after the France-based food and pharmaceutical testing company signed an agreement with Financière Bio Alfras SAS to acquire Biomnis Group for about €220 million or $250.5 million.

The transaction is expected to complete this summer.

Ferrero International SA, the Italy-based nutty chocolates maker agreed to acquire the U.K.-based Thorntons Plc for £112 million or 145 pence in cash for each Thorntons’ per share, a premium of 43% to its Friday closing price.

Ferrero already owns 30% of Thorntons’ shares and needs additional 16% to secure control of the company.

Shares of Thorntons Plc surged 42.4% to 144.50.

Spire Healthcare Group Plc jumped 9.4% to 350 pence after the U.K.-based private hospital group agreed to be acquired by South Africa-based Remgro Limited, investment group valued at about £431.7 million or 360 pence per share from Cinven.

Cinven, the U.K.-based privately held investment firm, is a major investor in Spire Healthcare.

Remgro will acquire about 29.9% stake from Cinven and will sell it to South African private hospital group Mediclinic International, as Mediclinic and Spire agreed to work together.