Offer for Vendex shares now official

Vendex and the investors interested in acquiring the retailer have agreed a buy-back price for the company’s scattered holdings. The investors are offering € 15.40 per ordinary share, confirming the offer announced at the end of April (as reported by DIYglobal). The price includes the dividend of € 0.10 already paid for the 2003/2004 financial year. Holders of preference shares should receive € 40.00 per share, according to a joint press release by the Dutch retailer and VDXK Acquisition, a firm jointly controlled by investment companies Kohlberg Kravis Roberts & Co., Change Capital and AlpInvest Partners. The current shareholders have from 21 May to 21 June to reach a decision.