Veolia’s Hostile Bid for Suez Is Back on After Court Victory
- Temporary suspension of Veolia takeover offer is lifted
- Suez’s loss still leaves several hurdles for any deal
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A temporary suspension of Veolia Environnement SA’s hostile bid for Suez SA was lifted by a French court, removing one of several hurdles to the company’s takeover plans.
The Nanterre Commercial Court ruled on Tuesday that it was not competent to address Suez’s request to temporarily ban Veolia’s takeover offer, according to a statement. The decision didn’t address the fundamentals of Suez’s case, but nonetheless gives a boost to Veolia’s effort to create a global giant in waste and water services by absorbing its French rival.