ZURICH, SWITZERLAND — Veraison, a major shareholder in Aryzta AG, has called on the Schlieren, Switzerland-based company to come to a quick decision on potential takeover talks.
Discussion on a potential public tender offer between Elliott Advisors (UK) Ltd. and Aryzta AG first surfaced on Sept. 10. Since that time, Aryzta has held an extraordinary general meeting and published the annual results for the 2019-20 fiscal year.
“Veraison as a major shareholder requests that the discussions with Elliott Advisors should be brought to a swift conclusion,” Veraison said. “Veraison expects both Aryzta and Elliott Advisors to comply with the ‘Put Up or Shut Up’ rule and to provide clarity by the end of this week regarding the potential takeover offer. This is in the best interest of all stakeholders as it allows the company and the new leadership to implement any required measures without delay.”
Aryzta on Oct. 20 said it is postponing its 2020 annual general meeting. By postponing the meeting, Aryzta said its board will have more time to evaluate the available range of strategic and financial options.