Takeover bid
Information related to takeover bid for 100% of the Ercros' share capital
Takeover bid on Ercros
On March 5, 2024, the Portuguese company Bondalti Ibérica launched an unsolicited takeover bid for 100% of Ercros at EUR 3.60 per share, later reduced to EUR 3.505 following dividend payments. The National Commission for Markets and Competition (CNMC in Spanish) began the second phase of its review on December 18, after identifying risks in the caustic soda and sodium hypochlorite markets, and concluded it on October 30, 2025, subject to compliance with certain commitments. This decision became final on November 24 after passing the review of the Ministry of Economy, Trade and Enterprise.
On February 10, 2026, the National Securities Market Commission (CNMV) published the takeover prospectus after its analysis and communicated the approval of the operation, which subjects the offer to a vote among Ercros shareholders. The bid is conditional on achieving acceptance of more than 50% of the share capital.
On February 19, 2026, the board of directors of Ercros issued an unfavourable opinion on Bondalti’s takeover bid and, on March 16, Bondalti informed the CNMV of the preliminary results of the takeover bid, in which it claimed to have obtained more than 50% of Ercros's capital.
Meanwhile, on August 11, 2025, the Italian company Esseco announced that it was withdrawing the takeover bid it had submitted, citing the conditions imposed by the CNMC for its authorization.
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.