The SBF group, owner of the Centauro storage chain, introduced on Thursday (23) is a competitive bid for a Netshoes sporting goods retailer offering a 40% premium (US $ 35 million) over the deal with Luiza Magazine. last month.
Having been listed in New York, Netshoes is shooting up 33% in the market after the offer has been released.
Indeed, Centauro offers US $ 2.80 per share of Netshoes, equivalent to US $ 87 million. The deal with Luiza Magazine is $ 60 million and it still has to be approved by shareholders.
On Thursday the Administrative Council of Economic Defense (Cade) approved the purchase of Netshoes by Luiza Magazine. If Netshoes accepts Centauro's offer, the transaction will have to go through the evaluation again.
According to people who know the number of Netshoes in detail, the company needs an injection of resources about $ 150 million in a few months to continue operating. The retailer said that he would not comment on that number or the proposed new procurement.
According to Centauro, there is room for this counter-proposal in the contract signed between Magalu and Netshoes with a fine of $ 1.8 million for the acquisition. The $ 35 million "surplus" in the new offer is more than enough to afford this clause.
Apart from the fine, the only rule would be that this proposal was made before the Magalu stakeholder meeting, scheduled for next Thursday (30).
The shares of Luiza magazine (MGLU3) divided 7.14% on Netshoes acquisition date, which is considered a good deal for potential synergies and expansion, as well as the agreed low price.
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