Law360, New York (February 08, 2012, 2:39 PM ET) -- Plastic pipe manufacturer Mexichem SAB de CV is offering to purchase Netherlands-based Wavin NV for €531 million ($704 million) to create a global market leader in the plastic pipe solutions industry, the Mexican buyer announced Wednesday.
Mexichem will make a recommended all-cash public offer for 100 percent of Wavin's shares at €10.50 per share, representing a 177 percent premium over the target's Nov. 18 closing price, to create a combined company with annual sales of about €4 billion, Mexichem said.
“A combination between Mexichem and Wavin...
Allen & Overy Guides Mexichem's $704M Offer For Pipe Maker
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