Pininfarina soars and aligns with PF Holdings’ new takeover bid price
It has raised the payment from one euro (cum dividend) to 1.20 euros (cum dividend), representing a maximum total outlay of 16.44 million and valuing the company at approximately 94.4 million
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(Il Sole 24 Ore Radiocor) - Pininfarina Spa after PF Holdings raised the price of the voluntary full takeover bid announced in September and launched on 26 October. PF Holdings, a Dutch vehicle controlled by the Indian group Mahindra & Mahindra, has raised the offer price from one euro (cum dividend) to 1.20 euros (cum dividend) per share tendered in response to the offer, which now provides for a maximum total outlay of 16.44 million and values the company at approximately 94.4 million. Pininfarina’s shares, traded on Euronext Milan, rose by 20.24%, aligning with the new offer price of 1.2 euros.
"The increase in the consideration, determined in light of the commitment to participate, further confirms the strategic and industrial significance of the offer", explains the company. PF Holdings has announced that Alfonso Prascina, a shareholder of the issuer holding 7.886 million shares, representing 10.0236 per cent of the issuer’s share capital, has given the offeror an irrevocable undertaking to accept the offer. The shareholder’s acceptance, together with the 82.585 per cent stake already held by the offeror, would enable the offeror to exceed 92.6 per cent of the share capital.
The offer, which, unless extended, will close on 20 November, is aimed at acquiring the entire share capital of Pininfarina and delisting the company . The new offer price incorporates a premium of 44 per cent compared with the official share price recorded on 15 September 2026 and premiums of 43.6 per cent, 46.5 per cent, 52.3 per cent and 46.8 per cent, respectively, compared with the weighted arithmetic average of the official share prices for the one, three, six and 12 months preceding the reference date. Acceptance must take place within one working day of the fulfilment of the stipulated condition, which has now been met following the price increase. The other terms and conditions of the transaction remain unchanged; the acceptance period began on 26 October.
