Attempt to file a tender offer: a maneuver by Veolia in clear breach of its repeated commitments to amicability
SUEZ comments as follows:
- Veolia is legally prevented from filing a tender offer due to the commitments they have taken and any such filing would be illegal. In addition, it would be unacceptable from an ethical standpoint.
- The announcement of Veolia made today constitutes a new major irregularity, as well as a disregard for the French State which has sought to promote an amicable solution, better for the shareholders, employees and all stakeholders of SUEZ.
- Veolia has also misled the legal authorities in France: their decision rendered on February 3rd relating to the information-consultation of the employees of SUEZ relied on Veolia’s commitment to amicability.
SUEZ will use all its rights to oppose such hostile approach of Veolia and the illegal filing of a tender offer.
Philippe VARIN, Chairman of the Board of Directors declared:
In its letter dated January 7th to the Board of Directors, Veolia called for dialogue. Even though the first meeting in respect of these discussions has just taken place, Veolia puts an end to such dialogue unilaterally and in bad faith. Veolia thus shows clearly that it has never intended to comply with its commitment to amicability. SUEZ will defend by all means the interests of its shareholders, its employees and all stakeholders.
Philippe Varin , Chairman of the Board of Directors of SUEZ