Alexandre de Rothschild, executive chairman of investment bank Rothschild & Co, in his London office in 2018. Julien Faure/Leextra via opale.photo
ANALYSIS – The family will launch a takeover bid to be the sole master on board the investment bank.
This “take private” sounds like a symbol of the successful revenge of the heirs of Guy de Rothschild, forty-two years after the privatization of the family bank by the Mitterrandien power. Created in 1983, Rothschild & Co will leave the Paris Stock Exchange. Concordia, the holding company of the Rothschild family, at the head of 38.9% of the voting capital of the investment bank on Avenue Messine in Paris, has announced a takeover bid at a price of 48 euros per share.
This offer, in cash, represents a premium of 36% over the price of the last six months and 15% over the historic high of January 13, 2022 (41.85 euros). It values the bank at 3.75 billion euros. A judged offer “particularly generous for minority shareholdersby an observer. The family thus demonstrates its desire to bring the operation to a successful conclusion”.
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Funding should not be a problem: “Concordia is in advanced negotiations with investors to finalize the financing of this offer”, explains the holding company. Outline…
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