MADRID, February 12. (EUROPE PRESS) –
Talgo shares fell more than 6% on the stock market this Monday after the Hungarian group Ganz-MaVag (Magyar Vagon) ruled out the possibility of submitting a public acquisition offer (OPA) to take over the company and assured that it does not have sufficient confidence. to do this in the future.
Shares in the Spanish train maker fell 6.17% on the day before each of its shares were exchanged for 4.48 euros per share, close to the 4.4 euros at which takeover rumors began to soar last Thursday.
In particular, on that day, around 15:00, its price suddenly began to rise rapidly, reaching 4.8 euros in just an hour, which is why the National Securities Market Commission (CNMV) decided to temporarily suspend its operation on the market.
After the Hungarian group issued clarifications on Friday after the market closed, the regulator lifted this suspension from the market opening this Monday.
Thus, its shares fell sharply as soon as trading began as expectations of a Talgo purchase at €5 per share cooled, leading to a return to the pre-Thursday situation.
Magyar Vagon explained on Friday that the main obstacle to the implementation of Talgo’s proposal relates to the company’s financing, subject to a change of control in order to obtain the appropriate regulatory approvals.
In this regard, the CNMV has informed you that it is not permissible to condition the offer on the condition of obtaining the consent of the financiers to the change of control.
For all these reasons, he said he is not confident that the takeover bid that has escalated the situation in recent months (the news first appeared in November) will be formulated, although he promises that he will keep informed of any subsequent actions. decision in due course.
Therefore, despite confirming information indicating a takeover offer at a price of €5 per share, it clarified that no agreement or decision in this regard has yet been reached and clarification of the regulatory obstacles to which reference was made is awaited. CNMV.
Buying Talgo at €5 per share would value 100% of the company at approximately €617 million. The company’s main shareholder is the investment fund Trilantic, while Magyar Vagon, owned by businessman András Tombor, runs the train manufacturing company DJJ, which it bought in 2020.