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Blackstone, Benettons Bid for Atlantia in $21 Billion Deal

  • Family enlists Blackstone to delist company, thwart rival bid
  • Deal would be biggest of 2022 based on enterprise value
Updated on

The Benetton family and Blackstone Inc. offered to buy out Atlantia SpA in a deal valuing the Italian highway operator at 19 billion euros ($20.7 billion).

Atlantia investors will receive 23 euros a share in cash, the U.S. buyout giant and the billionaire clan said Thursday. That’s 24% higher than Atlantia’s close on April 5, the day before Bloomberg News first reported on approaches to the company.