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French aeronautics group Latecoere to examine Searchlight's bid offer

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PARIS (Reuters) – French aeronautics company Latecoere said on Monday it would examine a takeover offer worth about 365 million euros (325.83 million pounds) by investment company Searchlight Capital.

Searchlight Capital, which already owns about 26% of Latecoere’s share capital, made an offer of 3.85 euros per share on June 28, representing a premium of 34% to Latecoere’s closing price on Friday.

Latecoere said it would appoint an independent expert and consult employees’ representative committee to examine the offer.

“The board of directors of the company will issue its reasoned opinion after the issuance of the report of the independent expert and the opinion of the employees’ representative bodies,” Latecoere added on Monday.

(Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips)

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