Takeover bid
Information related to takeover bid for 100% of the Ercros' share capital
Takeover bid on Ercros
On March 5, 2024, Bondalti Ibérica launched an unsolicited takeover bid for 100% of Ercros at €3.60 per share, later reduced to €3.505 following the dividend payment. On December 18, the Spanish National Commission on Markets and Competition (CNMC, acronym in Spanish) began the second phase of its analysis after identifying risks in the caustic soda and sodium hypochlorite markets, and authorized the transaction, on October 30, 2025, considering the commitments presented by Bondalti adequate to address the competition concerns detected.
The authorization is not yet final: the minister of Economy has 15 days to decide whether to refer the case to the council of ministers, which may assess the deal based on general interest criteria. Afterwards, the Spanish Securities and Exchange Commission (CNMV, acronym in Spanish) must approve the bid and submit it to a vote among Ercros shareholders, requiring acceptance of 75% of the share capital plus one share.
Meanwhile, Esseco Industrial, which had submitted an alternative bid of €3.84 per share, withdrew on August 11, 2025, due to the conditions imposed by the CNMC.
All public documents on the takeover bid
The translation of some official documents has been performed using automatic means. In case of discrepancy, the Spanish one is the version that prevails.