Veolia’s Hostile Bid for Suez Is Suspended by French Court

A company logo sits on display at the Veolia Environnement SA headquarters in Paris, France, on Wednesday, Sept. 30, 2020. Engie SA got five more days to consider Veolia Environnement SA’s 3.4 billion-euro bid ($4 billion) for most of its stake in Suez SA, prolonging a corporate fight in the hope of making it less hostile.Photographer: Nathan Laine/Bloomberg

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By Marthe Fourcade

February 8, 2021 at 6:46 AM UTC

Updated on

February 8, 2021 at 7:16 AM UTC

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Veolia Environnement SA was ordered by a French court to suspend its hostile attempt to buy utility rival Suez SA, the latest escalation in a long-running takeover battle that is testing the bounds of the country’s corporate culture.

Veolia must hold off on making any bid that hasn’t been approved by Suez’s board until a case has been heard, a court in Nanterre ruled on Monday, in an interim decision.