Altadis becomes Imperial’s property
Imperial Tobacco gets its right to limit the shareholders voting rights to 10 percent, during the General Meeting. This rule was required by Imperial for takeover bid of Altadis.
Altadis, Franco-Spanish tobacco producer of Montecristo cigars and Gauloises cigarettes, became property of Imperial Tobacco, so making the British company the fourth biggest tobacco company in the world.
Imperial Tobacco offered 50 euros per share of Altadis. The acquisition of Altadis costs 12.8-billion-euro that is 18.4-billion-dollar.
50 euros was the third offer of Imperial Tobacco for a share of Franco-Spanish enterprise. Altadis rejected the previous Imperials two offers: 45 and 47 euros per share.
“The company’s share price has increased from 14.20 euros per share at the end of the year to the 50 euros per share offered by Imperial Tobacco, with an average annual appreciation of more than 17 percent,” affirmed Altadis’ chief executive officer, Antonio Vazquez.
Becoming the proprietor of Altadis, Imperial Tobacco gained new perspectives and areas for expanding its markets and products.
So, British company becomes the fourth biggest tobacco company in the world and competitor for such grand enterprises as Altria (Philip Morris), BAT and Japan Tobacco.
