DP Eurasia N.V. characterized the proposal from Jubilant FoodWorks Limited to acquire the company as ‘unsolicited and opportunistic’.
The statement comes after Jubilant raised its stake in DP Eurasia to 53.52%.
In a stock exchange filing last week, Jubilant proposed acquiring all the issued and outstanding ordinary share capital of DP Eurasia at a market value of up to 85 pence per share.
In response, DP Eurasia’s board expressed profound disappointment that Jubilant chose to pursue this unsolicited and opportunistic approach without initially attempting to negotiate terms that the board could support as being in the best interests of all stakeholders.
