AEDAS Board Issues Report on Mandatory Takeover Bid by Neinor Group Vehicle

AEDAS Homes SA ( (ES:AEDAS) ) has provided an update.

AEDAS Homes has disclosed that its board of directors has issued a formal report on the mandatory takeover bid launched by Neinor DMP BidCo, a vehicle of the Neinor Homes group, for all remaining AEDAS shares at €24 per share. The offer, authorized by the Spanish Securities Market Commission, follows Neinor’s earlier voluntary bid that gave it control of 79.2% of AEDAS’s capital, and is being made to the remaining shareholders at a price deemed fair under Spanish takeover regulations, although the board stresses that its report is mandatory but non-binding and purely informational for investors.

The most recent analyst rating on (ES:AEDAS) stock is a Hold with a EUR24.00 price target. To see the full list of analyst forecasts on AEDAS Homes SA stock, see the ES:AEDAS Stock Forecast page.

More about AEDAS Homes SA

AEDAS Homes SA is a Spanish residential real estate developer whose shares are listed on the Barcelona, Bilbao, Madrid and Valencia stock exchanges. The company operates in the homebuilding and housing development sector, with its capital divided into 43.7 million shares traded through Spain’s Stock Exchange Interconnection System.

Average Trading Volume: 47,261

Technical Sentiment Signal: Strong Buy

Current Market Cap: €983.8M

For a thorough assessment of AEDAS stock, go to TipRanks’ Stock Analysis page.