Fnac Darty : The Board of Directors of Fnac Darty issues a favourable and unanimous reasoned opinion on the proposed tender offer initiated by EP Group

Core Opinion - The Board of Directors of Fnac Darty issued a favorable and unanimous reasoned opinion on the proposed tender offer initiated by EP Group, considering it beneficial for the company, its shareholders, and employees [3][9]. Offer Details - The tender offer includes a price of €36 per share, which represents a 19% premium over the last closing share price prior to the announcement, and premiums of 24% and 26% over the volume-weighted average share prices for the 1-month and 3-month periods, respectively [5]. - OCEANE holders will receive a price of €81.12 per OCEANE [5]. Independent Expert Review - Ledouble, acting as an independent expert, confirmed the fairness of the offer, supporting the Board's favorable opinion [3][4][9]. Shareholder Recommendations - The Board recommends that shareholders and OCEANE holders tender their securities to the offer, highlighting the immediate liquidity opportunity it provides [4][5]. Future Considerations - The Board noted that maintaining a listing would allow shareholders to remain associated with Fnac Darty's future potential, although it carries risks related to share liquidity and market price fluctuations [6]. Regulatory Compliance - The draft response document and the offer documents are subject to review by the French Financial Markets Authority (AMF), with the offer expected to close in the second half of 2026, pending AMF clearance [8]. Company Background - Fnac Darty is a European leader in omnichannel retail, with sales exceeding €10.3 billion in 2025 and a strategic plan for expansion in Europe through 2030 [12].