Deals
Suez Renews Support for Ardian’s Bid Ahead of Veolia’s Deadline
- Finance minister urges Veolia and Suez to resume talks
- Veolia proposal would fail to preserve 2 global leaders: Suez
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Suez SA backed a potential takeover bid led by private equity firm Ardian SAS, seeking to give investors an alternative as it fights an acquisition from French rival Veolia Environnement SA.
Ardian’s project, which has has yet be detailed, is “in the interest of Suez -- its shareholders, its employees, its clients and all its stakeholders,” the water and waste-treatment company said in a statement on Sunday after the board reviewed the plan. The Ardian proposal is “built around growth,” and would allow for an employees’ shareholding to double, it added.