The Hungarian group Magyar Vagon launches the takeover bid for Talgo by sending the documentation to the CNMV | Companies | EUROtoday

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A Talgo train.
A Talgo practice.

The Hungarian Magyar Vagon advances within the Talgo takeover bid. This Thursday, the agency despatched all of the supply documentation to the National Securities Market Commission (CNMV), which suggests beginning the takeover clock. The regulator begins to research the supply, however earlier than making a ruling it will need to have the authorization of the Government, which has already said that it’s not keen to present its approval.

A month in the past, the Hungarian consortium launched the takeover bid for Talgo, wherein it provided 5 euros per share, valuing the Spanish group at 620 million euros. It has expedited as a lot as attainable the deadline established by the takeover regulation, 30 days, for the takeover bid to be formally introduced since its announcement. The CNMV will now have a interval of seven days to confess it for processing after which a interval of 20 days, extendable at will, to authorize the takeover bid. The ordinary factor within the newest takeover bids is that the regulator takes about six months to authorize the transaction, though the complexity of this operation factors to an extended interval.

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