On Friday, Berenberg increased the price target for SNP Schneider-Neureither & Partner SE (SHF:GR) to EUR61.00, up from the previous EUR56.00, while keeping a Hold rating on the stock. The adjustment follows news that The Carlyle Group (NASDAQ:CG) has agreed to acquire a significant stake in SNP. Specifically, Carlyle will purchase 65.2% of SNP shares from the current majority shareholder, Wolfgang Marguerre, for EUR156.8 million in cash. Additionally, Carlyle has secured another 11.1% of the company's shares from other shareholders.
In a bid to consolidate its ownership, Carlyle plans to extend a tender offer to acquire the remaining shares of SNP at EUR61 per share. Following the successful completion of the offer, Carlyle intends to de-list SNP from the stock exchange. The management and supervisory board of SNP are in support of the transaction, which is expected to meet all legal requirements for a successful closure within the first half of 2025.
The analyst from Berenberg provided insights into the transaction, stating that with the backing of SNP's leadership and the anticipated fulfillment of legal conditions, the deal is likely to conclude successfully in the upcoming months. The acquisition by The Carlyle Group represents a significant shift in ownership for SNP, and the new price target reflects the terms of the proposed tender offer.
The transaction, if completed as planned, will result in SNP Schneider-Neureither & Partner SE transitioning from a publicly traded company to a privately held entity under the ownership of The Carlyle Group. The tender offer price of EUR61 per share sets a benchmark for the stock's valuation in the context of the acquisition.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.