SZEVF - Veolia raises bid for Engie's Suez stake to Euro3.4B

Veolia Environnement (VEOEY) raises its offer for the majority of Engie's (ENGIY) stake in waste management company Suez (SZEVF), now offering €18/share, or ~€3.4B ($4B) for 29.9% of Suez.Veolia also says its new offer, up from €15.5/share previously, will expire by the end of the day, sticking to a timetable it set at the end of August.The company also amends its bid by saying it would only launch a subsequent tender offer for the whole of Suez with the blessing of the company's board, and offers to negotiate over six months if it acquires the 29.9% stake.French Finance Minister Le Maire urges Veolia to keep its approach friendly and says the parties need time to work things out; the French government owns a 23.6% stake in Engie, which in turn has 32% in Suez.

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Veolia raises bid for Engie's Suez stake to €3.4B