Investing.com -- Metro’s stock experienced a significant surge, climbing as much as 38% to 5.36 euros in early trading on Thursday. This comes following the announcement that Daniel Kretinsky, a long-time shareholder, plans to take the company private once again.
This move comes nearly six years after an unsuccessful initial attempt. Despite this recent boost, the company’s shares have fallen by 15% over the past year.
The company announced that it has signed an agreement with its largest shareholder, EP Global Commerce, to remove the company from the stock exchange. EP Global Commerce, controlled by Czech billionaire Daniel Kretinsky, had previously attempted a similar move in 2019.
However, they did not secure enough support from shareholders at the time.
As part of the agreement, EP Global Commerce has committed to offering shareholders a price of 5.33 euros for each ordinary share. According to Metro, this offer represents a substantial premium compared to the current stock price.
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