Avance advises Aliaxis SA/NV, a leader in water management solutions, in relation to its voluntary all-cash public tender offer for all the issued and outstanding shares in Uponor.
The offer price is EUR 25.75 in cash for each issued and outstanding share, and would value Uponor’s total equity at approximately EUR 1,875 million.
The tender offer is conditional on, among other things, an acceptance threshold of more than 50 percent of the outstanding shares in Uponor. Aliaxis does not anticipate any material substantive issues with respect to obtaining any necessary regulatory approvals, and the completion of the tender offer is expected to occur early in the fourth quarter of 2023.
Uponor rejected Aliaxis’ intention offer at the end of April. Since then, the shareholding of Aliaxis Holdings SA in Uponor Corporation has gone above the threshold of 20%.