Public Tender Offer for Bobst Group Made by JBF Finance
JBF Finance SA, Buchillon, Switzerland (“JBF”) announced a public tender offer for all publicly held shares of Bobst Group SA. JBF is Bobst Group’s largest shareholder and already holds approximately 53% of the shares and voting rights in the company.
JBF has announced that it will pay CHF 78.- in cash per Bobst Group share, which represents a premium of 22% compared to the average price of the last four weeks. The offer is not subject to substantial conditions. Following completion of the offer, JBF expects to be able to take Bobst Group private through a delisting of its shares from SIX Swiss Exchange to allow the company to focus on long-term and sustainable growth. The pre-announcement of the offer is available here. The offer prospectus is expected to be published on the same website page on or around Sept. 5, 2022.
This offer will give the company the appropriate conditions to deploy a long-term strategy, execute its digital transformation, and maintain its strong Swiss industrial activities.
Transaction highlights include:
- Bobst Group continues to be managed by independent board members and family board members, as it is today;
- Bobst Group will enjoy the best possible conditions to transform the business into a digitized, connected and sustainable packaging supply chain;
- JBF is committed to the long-term legacy of the 5th generation of families and to sustaining the industrial base of Switzerland;
- Shareholders have the opportunity to realize their investment at an attractive price.
The Board of Directors of Bobst Group, represented by the Committee of Independent Directors, has reviewed the Offer, is convinced of the business rationale of the transaction, and welcomes the possibility for shareholders to tender their shares at a premium in these uncertain times.
Expected Timeline
- Sept. 5, 2022: Publication of offer prospectus, including the report of the Board of Directors.
- Sept. 20-Oct. 3, 2022: Main offer period.
- Oct. 10-21, 2022: Additional acceptance period.
- Beginning of November 2022: Offer settlement.
The preceding press release was provided by a company unaffiliated with Packaging Impressions. The views expressed within do not directly reflect the thoughts or opinions of Packaging Impressions.
