MILAN (Reuters) – A buyout offer launched by the Benetton family and U.S. investment fund Blackstone for Italy’s Atlantia has breached the 95% threshold, Reuters calculations showed, allowing the bidders to squeeze out the remaining investors.
The bidders have said from the start they would exercise their “squeeze out” right should they breach that threshold.
Including the stake already owned by the Benetton family and the holding Atlantia has in itself, they gained the support of 95.96% of shares, according to a Reuters calculation.
(Reporting by Agnieszka Flak, editing by Gianluca Semeraro)