Eurobio Scientific: proposed squeeze-out offer at €25.30 per share, 26% premium
Majority shareholder EB Development, which holds 90.14% of the capital, plans to file its offer proposal upon publication of half-year results expected on September 24, 2026.
A proposed offer followed by a mandatory squeeze-out at €25.30 per share
EB Development, a company held directly or indirectly by funds managed by IK Partners and former reference shareholders of Eurobio Scientific (including NextStage as well as executives and directors of the Company, including Chief Executive Officer Denis Fortier), announced on September 16, 2026 its intention to file a public squeeze-out offer, followed by a mandatory squeeze-out. The filing of the offer is envisaged concurrently with the publication of Eurobio Scientific's half-year results, scheduled for September 24, 2026. As of today, EB Development directly holds 90.14% of the shares and voting rights of the Company. The offer would be pitched at the price of the voluntary public offer completed in 2024, namely €25.30 per share. This price represents premiums of +26.39%, +22.71% and +16.05% compared to volume-weighted average prices (20, 60 and 120 days) as of September 16, 2026.
Independent expert appointed, AMF approval required
On the proposal of an ad hoc committee established by the Board of Directors and composed of a majority of independent directors, in accordance with Article 261-1 of the General Regulations of the Financial Markets Authority, the Board of Directors of Eurobio Scientific has appointed the firm Ledouble, represented by Olivier Cretté and Jonathan Nilly, as independent expert. The latter is responsible for drafting a report comprising a fairness opinion on the financial terms of the offer and the absence of related agreements likely to affect equal treatment among shareholders. The implementation of the offer remains subject to its filing with the AMF as well as a compliance decision that the latter would pronounce following its examination. Following the close of the offer, EB Development will implement a mandatory squeeze-out procedure insofar as minority shareholders hold less than 10% of the capital and voting rights of Eurobio Scientific. These shareholders will receive compensation equal to the offer price.
