UPDATE - JOINT PRESS RELEASE
This is a joint press release by Beter Bed Holding N.V. ("Beter Bed Holding" or the "Company") and 959 B.V. (the "Offeror"), a company controlled by Torqx Capital Partners B.V. ("Torqx"). This joint press release is issued pursuant to the provisions of Section 7, paragraph 1 sub a of the Dutch Decree on public takeover bids (Besluit openbare biedingen Wft) (the "Decree") in connection with the intended recommended public offer by the Offeror for all the issued and outstanding shares in the capital of the Company (the "Offer"). This press release does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in the Company. Any offer will be made only by means of an offer memorandum ("Offer Memorandum") approved by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the "AFM"). This press release is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, in any jurisdiction in which such release, publication or distribution would be unlawful, including the United States.
Uden/Bussum, the Netherlands, 4 August 2023 – Reference is made to the joint press release issued by Beter Bed Holding and Torqx on 10 July 2023 in respect of the conditional agreement on a recommended all-cash public offer to be made by the Offeror for all the issued and outstanding shares in the capital of Beter Bed Holding (each a "Share") at an offer price of EUR 6.10 per Share (cum dividend).
Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, which requires a public announcement with a status update on an intended public offer within four weeks after the offer is announced, Beter Bed Holding and Torqx hereby provide this joint update on the Offer.
Beter Bed Holding and Torqx confirm that they are making good progress on the preparations for the Offer. A request for review and approval of the Offer Memorandum will be filed with the AFM no later than the second half of September 2023.
Beter Bed Holding and Torqx confirm that the competition clearance process with the Dutch Authority for Consumers and Markets (Autoriteit Consument & Markt) is ongoing. Beter Bed Holding and Torqx are closely co-operating to obtain the competition clearance and expect that clearance will be secured within the timetable of the Offer.
In compliance with the Dutch Works Councils Act (Wet op de ondernemingsraden), the joint works council of Beter Bed Holding’s group in the Netherlands has been requested to render its advice on the intended decision of Beter Bed Holding’s management board to recommend the Offer and support the transaction.
For the full PDF of the press release, please click on the link under attachment.
Press photos can be downloaded here.
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