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Investing.com -- Döhler Group SE has acquired a 10.02% stake in Treatt’s issued share capital, the company disclosed Tuesday.
The stake was built through the acquisition or agreement to acquire 4,182,066 shares, representing 7.05% of Treatt.
Döhler described Treatt as a "high-quality company" and stated it intends to hold the shares for investment purposes only. The company confirmed it is not considering making an offer for Treatt.
Under Rule 2.8 of the UK Takeover Code, Döhler is now restricted from making a bid for Treatt for six months, except under specific circumstances. These exceptions include if Natara Global Limited’s current offer lapses, a third-party bid emerges, or a material change occurs.
Natara Global Limited is currently pursuing an acquisition of Treatt through a Court-sanctioned scheme of arrangement. This process requires approval from a majority of shareholders representing at least 75% in value of votes cast.
While Döhler’s 10.02% stake is not enough to block the scheme unilaterally, it could prove influential if combined with other shareholders who oppose the deal.
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