N Seven Nigeria, the majority equity investor in Guinness Nigeria Plc is making a Mandatory Take Over (MTO) offer to the other shareholders of Guinness Nigeria.
The MTO offer provides that N Seven Nigeria will acquire up to 481,362,887 ordinary shares from Guinness Nigeria’s shareholders for a cash consideration of N81.60 per share.
A mandatory takeover, also known as a mandatory offer or mandatory bid, is a public acquisition offer by which majority stakeholders offer all shareholders of a listed company the purchase of their shares in exchange for a price, usually in cash.