The "friendly tender" will target all of Saft’s issued and outstanding shares at €36.50 each, an offer price which represents a 38.3% premium above the company's current stock price, and nine times its reported earnings before interest, tax, depreciation and amortisation (Ebitda).
“The combination of Saft and Total will enable Saft to become the group’s spearhead in electricity storage,” said Total chief executive Patrick Pouyanné.
"The
