The Board of Directors expressed approval of the offer and its conditions in light of the current geopolitical and macroeconomic uncertainty, as noted in a report to the Comissão do Mercado de Valores Mobiliários.
Additionally, considering Martifer’s stock performance, the offered consideration is regarded as reasonable and likely to be accepted by shareholders.
On August 6, Visabeira Indústria SGPS initiated a General and Mandatory Public Offer to acquire all shares representing Martifer’s share capital.
In the preliminary announcement, Visabeira stated the offer is general and mandatory due to the company entering a shareholder agreement with I’M — SGPS and Mota-Engil, SGPS, outlining the terms and conditions to govern their shareholder relations concerning the targeted company.
The same day, CMVM lifted the suspension of Martifer’s trading.
The Board recommended shareholders to make individual decisions aligned with their objectives, seeking legal, fiscal, or financial advice as necessary to carefully consider the proposal’s acceptance.
Martifer’s Administration also noted, after reviewing Visabeira’s offer, that significant changes in human resource structure, working conditions, or stakeholder relations are not anticipated.
