William Demant enters into exclusive negotiations to take over Audika


N. Jacobsen, President and CEO of W. Demant © GB

Today, William Demant announces that the Company has entered into exclusive negotiations for the potential purchase of 53.9% of the share capital of Audika from the controlling shareholder Holton SAS at a price of EUR 17.78 per share.

Headquartered in Paris, France, Audika is a leading French network of hearing care providers with more than 460 points of sale across France. In 2014, Audika recorded revenue of EUR 98.7 million as announced by the company on 19 January 2015.

If successful, the purchase of the controlling interest in Audika will under French takeover regulations commit William Demant to commence a mandatory public tender offer for the remaining 46.1% of the outstanding share capital of Audika. The acquisition of the controlling interest in Audika is subject to approval by the French competition authority. Timewise, the mandatory public tender offer is expected to close in June 2015 at the earliest.

The entire transaction will amount to an equity value of EUR 168 million. The price of EUR 17.78 per share represents a premium of approx. 32% on top of the most recent stock price quoted on Euronext Paris and a premium of approx. 46% compared to Audika’s weighted average share price over the last three months.

For decades, William Demant has been a supplier of hearing instruments to Audika, and under the assumption that the acquisition process will be successful, the partnership is bound to be strengthened even further.

According to the company’s financial calendar, William Demant will publish its Annual Report 2014 on 26 February 2015.

Source: Press release William Demant