Franklin offers non-binding proposal to buy Whole Earth Brands for $4 per share

Sir Martin Franklin, who along with Sababa Holdings is the holder of 21.08% of the shares of Whole Earth Brands, disclosed in a filing that on June 25 the reporting persons delivered a non-binding proposal to Irwin Simon, the Executive Chairman of the board of directors, pursuant to which Sababa or one of its affiliates, would be willing to enter into a transaction to acquire the company and combine it with Royal Oak Enterprises, for which Franklin serves as Executive Chairman, for cash consideration of $4.00 per share. “The Proposal may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including without limitation, an acquisition of additional securities of the Issuer, an extraordinary corporate transaction (such as a merger) involving the Issuer, delisting of the Common Stock of the Issuer and other material changes to the Issuer’s business or corporate structure. No assurances can be given that a definitive agreement will be reached or that the transaction contemplated by the Proposal will be consummated,” the filing with the SEC states.