Telemecanique SA has found a white knight in the shape of nuclear power station builder Framatome SA in its efforts to fend off the unwelcome bid from Schneider SA: Framatome is making a tender offer for 43.5% of the shares at FF4,150 a time against Schneider’s FF3,900 offer for 43.3%; Schneider currently holds 12.1% and Framatome 9% so that its offer would give it 52.5%.
TELEMECANIQUE TO FEND OFF BID FROM SCHNEIDER SA
