Euro Disney ‘Cash Tender Offer’ watch
In a declaration of purchases and sales published today (11 May 2017) on the Autorité des marchés financiers (AMF) website, the EDL Holding Company LLC a wholly-owned subsidiary of The Walt Disney Company purchased 25,302 Euro Disney S.C.A. shares yesterday (10 May 2017).
The Walt Disney Company now own 86.069% of Disneyland Paris with 674,239,051 shares.
Euro Disney S.C.A. has a total of 783,364,900 shares, and The Walt Disney Company has announced that they intend to apply to the AMF for a mandatory take-over of Disneyland Paris if they reach an ownership level of 95% of the company.
Now that the Simplified Cash Tender Offer has opened to the public the number of shares being purchased daily by TWDC should now increase.
Salon Mickey 
Hi,
What will happen to the shares of shareholders who don’t accept the cash offer, when TDWC apply for the take over after 08th June?
Kind Regards
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This is from the FAQ The Walt Disney Company has published for shareholders:
What if I don’t accept The Walt Disney Company’s tender offer?
You will retain your shares.
If The Walt Disney Company reaches the threshold enabling a mandatory buy-out, you will be required to transfer your shares for €2.00 per share.
The Walt Disney Company does not reach the threshold permitting it to implement a mandatory buy-out, you will retain your shares.
In any case the recapitalization of up to €1.5 billion is essential for the Euro Disney Group.
However, simply proceeding with it through a share capital increase would have required that shareholders either pay their pro-rata share of the equity contribution of up to €1.5 billion or experience substantial dilution of their shares.
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