Zurich / CH. (aag) Swiss-Irish Aryzta AG notes the statement made by Elliott Advisors (UK) Limited on 23 November. Aryzta confirms that it has received a non-binding letter from Elliott in which they proposed making an offer at CHF 0.80 per share, subject to certain conditions, some of which cannot be satisfied as a matter of fact, and to Elliott being able to secure refinancing for Aryzta. As previously mentioned, Aryzta concluded the discussions with Elliott on October 24, 2020. Aryzta previously announced the appointment of financial advisors for asset disposals and the Board, in line with its fiduciary duties, will consider all alternatives and select the optimum option for a sustainable future for the company.
2020-11-24: Elliott Advisors Letter
Aryzta notes that it has received a letter from Elliott Advisors (UK) Limited withdrawing the condition from its non-binding proposal which could not be satisfied as a matter of fact. As previously mentioned, Aryzta concluded the discussions with Elliott Advisors on 24 October 2020.