Now, will you? The Aliansce Sonae malls operator made its third proposal in the year for a merger with BR Malls - and this time has achieved considerable advance. BR Malls agreed to discuss the terms and lead the decision to vote on shareholders. The Council had rejected previous offers.
The negotiation had been succeeding; the real potential of a business combination encouraged investors. The alliance's activity has risen 0.85%, and BR Malls' action jumped 7.6%.
This time, Aliansce proposed to pay R $ 1.25 billion in cash at the shareholders of BR Malls and, in the exchange ratio, enter with 326,339,911 shares - in the proportion of 0.39 action by BR Malls paper. It is the lowest value in cash offered so far, but the most significant percentage in efforts, one of the main questions of BR Malls administration on previous offers.
In the current exchange ratio, BR Malls would be with 55.2% of the company combined more cash payment, compared to 51% plus R$ 1.85 billion under the terms presented in March and 50% with R$ 1.35 Billion offered in January.