Gide advised Limagrain, an agricultural cooperative owned by French farmers, and 4th largest seed group in the world, on the simplified tender offer of Limagrain Participations on the shares of its subsidiary Vilmorin & Cie at a price per share of € 62.60.
The offer price values Vilmorin & Cie at € 1.43 billion for 100% of its capital, representing a premium of 45.4% compared to the last closing share price before the filing of the Offer on 28 April 2023. At the end of the Offer, if the number of shares not tendered does not represent more than 10% of the capital and voting rights of Vilmorin & Cie, Limagrain Participations will request the implementation of a squeeze-out process.
The completion of the Offer remains subject to the AMF clearance decision.
The Gide team is led by partner Olivier Diaz, working with Agathe Delalande and Axel Azoulay on the M&A aspects; Eric Cartier-Million and Louis Fearn on the financing of the Offer; and Magali Buchert with Charles Ghuysen and Pauline Alvarez on the tax aspects.
Vilmorin & Cie is advised by Willkie Farr & Gallagher with Fabrice Veverka and Victor Cann.