Suez Seeks $61 Million Daily Fine Until Veolia Withdraws Bid
- Companies battle again at Nanterre Commercial Court hearing
- Veolia: Suez misled judges to get ruling to block offer
This article is for subscribers only.
Suez SA asked French judges to impose a daily fine of 50 million euros ($61 million) if Veolia Environnement SA doesn’t withdraw its hostile takeover offer.
Suez lawyer Bruno Cavalié told a court outside Paris Tuesday that Veolia deliberately ignored a ruling from last week that ordered the company to temporarily hold off on any takeover bid that didn’t have the approval of Suez’s board.