Today, the Financieele Dagblad quotes from a letter of April 2015 from private equity firm Waterland to TenCate. In this case too, there was no concrete proposal.
In its letter, Waterland asked for an introductory meeting to have a discussion about developments in the markets in which TenCate operates, and about possible cooperation between TenCate and Waterland.
The Boards of TenCate have carefully considered their fiduciary duties and concluded that the letter, due to the lack of a concrete proposal, provided an insufficient basis for discussions. Against this background, the letter from Waterland was not a basis for discussions. Later, nothing concrete has been forthcoming from Waterland.
As described in the Offer Memorandum, Waterland, or any other party, may approach TenCate with an intended higher offer, and under such circumstances, TenCate can enter discussions with such a party. Currently there is only one concrete offer: the current offer of € 24.60 per share by the consortium led by Gilde Buy Out Partners.
Royal Ten Cate Almelo, the Netherlands,
Wednesday 9 December 2015