Key facts
- Sazerac launched a takeover offer for all Berentzen shares at €5.55 per share.
- The offer is supported by Berentzen's supervisory and executive boards.
- Berentzen's stock closed at €4.53 per share on Friday.
- Sazerac expects to close the acquisition during the fourth quarter.
- Berentzen is to be delisted following the acquisition.
US spirits maker Sazerac has launched a takeover offer for all shares of German beverage firm Berentzen at €5.55 per share. The offer, which represents a premium over Berentzen's closing price on Friday, is supported by Berentzen's supervisory and executive boards. Sazerac expects to close the acquisition during the fourth quarter, after which Berentzen is to be delisted.
Berentzen confirmed talks over a potential takeover by privately held Sazerac on Thursday. The Louisville, Kentucky-based company has been focused on buying young brands and underperforming labels from large conglomerates to expand beyond its domestic market. On Friday, Berentzen closed at €4.53 per share.