After months of waging a battle in the media and the courts, Veolia finally won over Suez with an offer of 20.50 euros per share, up from its original offer of 18 euros.
In a statement it said a shift of assets would create a Veolia with 37 billion euros in annual revenue to move forward the company's "plan to create a global champion of ecological transformation".
Veolia wants to become a global giant supplying power generation, waste management and water services to municipalities worldwide.
A new Suez would have 7 billion in annual revenues.
Veolia already bought 29.9 percent of Suez's capital in October.
Share prices in both companies jumped higher following the announcement, with Suez gaining 7.6 and Veolia rising 6.3 percent.
The blue-chip CAC 40 index in Paris was 0.2 percent lower in morning trading.
mch/rl/ach
| The content herein, unless otherwise known to be public domain, is Copyright 1995-2026 Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principles for news reporting and research purposes. |
