Suez board believes approach by Veolia remains hostile

In this news, we discuss the Suez board believes approach by Veolia remains hostile.

PARIS (Reuters) – French waste and water management company Suez SEVI.PA said on Sunday that its board of directors still viewed Veolia’s takeover approach as a hostile move, despite conciliation openings from the society.

Earlier on Sunday, Veolia said it had pledged not to launch a hostile bid for the remaining Suez shares if it reaches a deal to buy a 29.9% stake in the company from Engie ENGIE. PA, and would seek approval from Suez.

In a letter sent to the CEO of Veolia and made public, Suez chairman Philippe Varin said the board met on Sunday and felt Veolia’s approach remained hostile.

Reporting by Gwenaelle Barzic, Writing by Sarah White, Editing by Mathieu Rosemain

Original © Thomson Reuters

Originally posted 2020-10-04 07:36:08.

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