French multimedia chain Fnac thinks the acquisition of its competitor Darty will create at least 85 million euros' worth of synergy. The company placed a bit on Darty last month.
Convinced two major shareholders
Fnac says its bid has been accepted by Knight Vinke Asset Management and DNCA Finance, who together own 23.63 % of all Darty shares. If the acquisition is approved, the newly-formed company will become France's largest electronics company.
Last month, Fnac offered some 720 million euro for Darty, 25 % above its share price at the time. The number of Fnac stores in France would triple instantly while its turnover would also double.
Darty, originally a French company but with its main office currently in the United Kingdom, still has most of its stores in France, while it also owns BCC in the Netherlands and Vanden Borre in Belgium.