Unieuro Founders Oppose Fnac Bid Citing Steep Undervaluation
- Silvestrini family sees fair value at up to €380 million
- Italy is weighing curbs on bid to protect customer data
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The founders of Unieuro SpA are opposing a bid from Fnac Darty SA on the grounds that it significantly undervalues the Italian electronics retailer.
A July takeover offer from France’s Fnac Darty values Unieuro at about €250 million ($277 million), while fair value “is in a range between €350 million and €380 million,” founders Giuseppe and Maria Grazia Silvestrini said in a joint interview with Bloomberg.