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Believe Makes Bid for Remaining Public Shares a Year After Going Private
Believe has made a bid for the remaining public shares of the company a year after going private via a consortium led by CEO Denis Ladegaillerie.
The offer will be launched by an entity named Upbeat BidCo that’s controlled by CEO Denis Ladegaillerie and private equity funds EQT and TCV. According to the press release, the committee will “monitor and facilitate the work of the independent expert, and to prepare a draft reasoned opinion on the merits of the offer and its consequences for Believe, its shareholders and its employees.” On Tuesday (April 15), Believe’s board of directors unanimously welcomed Upbeat BidCo’s intent to file the public buyout offer based on a preliminary recommendation of the ad hoc committee.
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