Glaverbel given until Jan 15 to respond to Asahi offer

Glaverbel SA said the Belgian Banking and Finance Commission has extended until Jan 15 the deadline for the Glaverbel board to give its view on Asahi Glass Co Ltd's offer to buy out the shares it does not own in the company.

On Dec 19, Asahi bid 145 eur per share for the 45 pct it does not hold in Glaverbel - a price close to the 150 eur equivalent historic high.Under normal Belgian rules, the Glaverbel board had five days to inform the commission of its opinion on the Asahi bid.The Glaverbel board said it has commissioned a merchant bank to issue an opinion on the offer and has also allowed independent directors to appoint an external adviser to study Asahi's prospectus.It noted that after taking into account the end-year period, the commission has agreed to an extension of the deadline for the board's comments until Jan 15.Glaverbel SA said the Belgian Banking and Finance Commission has extended until Jan 15 the deadline for the Glaverbel board to give its view on Asahi Glass Co Ltd's offer to buy out the shares it does not own in the company.

On Dec 19, Asahi bid 145 eur per share for the 45 pct it does not hold in Glaverbel - a price close to the 150 eur equivalent historic high.

Under normal Belgian rules, the Glaverbel board had five days to inform the commission of its opinion on the Asahi bid.

The Glaverbel board said it has commissioned a merchant bank to issue an opinion on the offer and has also allowed independent directors to appoint an external adviser to study Asahi's prospectus.

It noted that after taking into account the end-year period, the commission has agreed to an extension of the deadline for the board's comments until Jan 15.

600450 Glaverbel given until Jan 15 to respond to Asahi offer glassonweb.com
Date: 3 January 2002
Source: FT

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