B&C Increases Stake in Semperit AG Holding to 63.4%

B&C has raised its holding in Semperit AG Holding to 63.4% following a voluntary takeover offer. The acquisition of 1 million shares saw an increase from B&C's previous stake of 57.3%. The offer of €15.0 per share was a 25% premium above the pre-announcement price, yet it remains modest compared to Semperit's estimated intrinsic value. The settlement is due by June 26, without extension options. Analysts noted the unchanged strategic direction of Semperit despite the increased ownership stake.

The offer was not expected to attract significant participation from long-term shareholders, as B&C efficiently enhanced its position. The investment case remains strong, with Semperit's share price seen as undervaluing future potential gains. Analysts continue to recommend a BUY, maintaining a target price of €21.5 per share. Intrinsic value and operational improvements suggest further upside potential.