Primer: Ercros (ECR SM) - Aug 2026
The investment case for Ercros as a publicly-traded entity is effectively complete following the approval of Bondalti's delisting offer at...
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Bondalti/Ercros: Delisting Approved; Final Exit at €3.505
Ercros has reached another key milestone in Bondalti's takeover. We revisit the implications for minority shareholders, the remaining spread and...
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Bondalti/Ercros: Control Secured; Residual 3% Spread into Delisting
Bondalti has secured control of Ercros, removing deal risk. Shares at €3.405 imply a ~2.9% spread to €3.505, offering low-teens IRR into a likely...
226 Views
Bondalti / Ercros – Offer Live; Tender Recommended
Ercros tender period opens for Bondalti’s €3.505 offer. Shares at €3.46 imply ~1.3% gross carry into March settlement. Completion risk minimal;...
176 Views
Bondalti-Ercros: Acceptance Risk Removed, Deal Enters Final Execution Phase
Bondalti has de-risked its Ercros bid by cutting the acceptance threshold to 50%. With shares at €3.42 versus a €3.505 offer, the trade is now a...
344 Views