BPI closes 7% below the price of the Tender Offer after the lead … – Jornal de Negócios – Portugal

In a session where the volume was higher than average, BIS titles marked the biggest devaluation of the PSI-20. Was the reaction of investors to lead an effective condition of the takeover bid launched by CaixaBank.

Never since the announcement of the takeover bid by the CaixaBank, actions BPI had closed at such a low price. It was the result of lead from deshielded the statutes, which the Catalans had put as essential to the operation move on.

The BPI shares ended the session on Wednesday, June 16, to lose 6.36% to 1.236 euros, a price which is 7% below 1,329 euros offered by CaixaBank on 17 February, four months ago.

The bench headed by Fernando Ulrich scored the biggest devaluation of the main index of the Lisbon Stock Exchange, which lost 0.82%. In the market close, BPI is estimated at 1.7935 billion euros.

The session was lively in terms of volume, with over 2.7 million shares traded, above the average of 2.5 million in the last six months. It was also trading higher bonds since March.

The fall of securities BPI Wednesday started by 10:30, when it was learned that the only point of the meeting’s agenda was the BPI rejected.

In operation, the Catalans offer a contrast of 1,329 euros to shareholders of the bank. A value which the shares of BPI turned away this Wednesday, June 17, after sinker the proposal to amend the Articles of Association, which allowed the CaixaBank have voting rights identical to their position on capital (44.1%), . since, at this time, shareholders can not vote more than 20% of the vote

With the lead of deshielded, the La Caixa bank has to consider alternative if you want to take the OPA ahead – not yet It was taken no official position. The price is challenged by the second largest shareholder, Santoro, Isabel dos Santos. Their representative, Mario Silva, announced that the takeover of CaixaBank “does not meet the conditions defined at the outset.”

On behalf of BPI administration, there were statements to recall that the operation is still made. “The offer stands”