Forbes (Thomson Financial) – Dutch shareholders’ association VEB and five hedge funds are to challenge the 81.03 eur squeeze out price set for those Rodamco Europe NV shares not already owned by Unibail-Rodamco, VEB lawyer Aafje Rietveld told Thomson Financial News.
Unibail-Rodamco, which currently holds around 98.5 pct of Rodamco Europe, began proceedings in December to force all remaining shareholders to tender their shares.
The VEB and the hedgefunds believe the price is too low, saying it is unfairly based on the recent performance of Unibail-Rodamco’s stock, rather than on the value of Rodamco Europe’s stock when the deal was announced in April 2007.
