Deoleo Shares Fall on 520 Million Euro Takeover Bid
Deoleo shares dropped significantly after Acesur and Dcoop agreed to acquire the olive oil producer at an enterprise value of 520 million euros. The proposed deal requires regulatory approvals and keeps the company under Spanish control.
Deoleo shares fell 19% on Thursday afternoon, heading for their worst single-session decline in over six years after Acesur and Dcoop agreed to acquire the olive oil producer at an enterprise value of €520 million ($586 million).
The transaction covers approximately 92% of Deoleo Holding, the group's operating parent, with potential to reach 100% if remaining shareholders participate. Spain-based Acesur and Dcoop structured the buyout to keep the company under domestic control, addressing prior concerns raised in Madrid.
