By DP Eurasia, the franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan, Georgia, and Russia, has rejected Jubilant FoodWorks’s increased offer for the company. The £139.3 million ($176.2 million) offer is deemed significantly below fair value by DP Eurasia. Instead, the company plans to engage with Jubilant, its largest shareholder, to reach a more reasonable offer price that fairly values DP Eurasia. The board seeks a proposal that they will be prepared to recommend to shareholders.
It is strongly advised that DP Eurasia shareholders take no action at this time. The board emphasizes the importance of a unified stance among shareholders in order to secure the best outcome for all involved parties.
Earlier today, Jubilant made an improved offer of 95 pence per share, up from their previous offer of 85 pence per share. This revised price represents a 39% premium compared to DP Eurasia’s closing share price of 68.5 pence on November 27. The shares reached a peak at 97.50 pence earlier in the day and are currently trading at 92.50 pence, reflecting a 5.7% increase.
DP Eurasia’s shares have experienced notable growth this year, rising by 71% year-to-date.
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