H&R Holding GmbH Removes Acceptance Threshold in Tender Offer

On July 29, 2025, H&R Holding GmbH announced it would waive the minimum acceptance threshold in its public tender offer to the shareholders of H&R GmbH & Co. KGaA. This move is designed to enhance transaction security, allowing shareholders to accept the offer until August 25, 2025. Shareholders are offered EUR 5.00 per share, providing them an opportunity to sell their shares under favorable terms.

The settlement of the offer is anticipated in the third quarter of 2025. By dispensing with the 85% acceptance condition, H&R Holding addresses potential market uncertainties and increases transaction assurance. The offer remains unaffected by further conditions, and the extended acceptance period allows more time for shareholders to evaluate their options.

Following the offer's successful settlement, H&R Holding may consider a delisting or squeeze-out, ensuring that H&R GmbH & Co. KGaA can transition its refinery operations outside the stock market environment. Shareholders are advised to contact their custodian banks to complete the share tendering process within the stipulated period.