Club Med's $732M Buyout Offer Extended Due To Lawsuit

Law360, New York (August 6, 2013, 4:02 PM EDT) -- France's stock market watchdog on Tuesday pushed back the deadline for a tender offer in the €557 million ($732 million) takeover of Club Mediterranee SA proposed by China's Fosun International Ltd. and AXA Private Equity, pending courtroom review of a shareholder suit opposing the deal.

The window for shareholders to accept the €17.50-per-share offer was originally set to close Aug. 30, but the AMF said it would keep it open “until further notice” in light of a hearing in the Paris Court of Appeals to address...
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