L’Occitane International SA (HK:0973) has released an update.
L’Occitane International S.A. is proceeding with the compulsory acquisition of all outstanding shares following the receipt of valid acceptances surpassing 90% of the disinterested shares, effectively privatizing the company. Shareholders who still hold shares after the offer closing date will be offered HK$34.00 in cash per share, with the compulsory acquisition notices to be dispatched on August 7, 2024. The acquisition will be finalized after a 2-month notice period unless legally contested.
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