The Nanterre Commercial Court cancelled its order dated February 8, 2021 – ordering Veolia not to file its tender offer – and rejected Suez's additional request to have Veolia withdraw its tender offer. The Nanterre Commercial Court deemed itself territorially incompetent to deal with these applications.
Following this new judicial setback, SUEZ’s board must now decide to either enter in a constructive dialogue with Veolia to discuss the merger project or wait for shareholders to exercise their rights at the upcoming general meeting, which must be held by law by June 30, 2021.
Veolia will continue to take all necessary steps to maintain the momentum on its project. Without any credible alternative, the path to the general meeting is open. To date, messages from SUEZ’s board regarding mediation and dialogue fully contradict their systematic pursuit of litigations and failure to engage in negotiations. Veolia remains open to discussion yet stands ready for the general meeting, which will be a milestone that cannot be ignored.
Read the Veolia press release here - https://www.veolia.com/fr/newsroom/communiques-presse/president-du-tribunal-commerce-nanterre-se-declare-incompetent-statuer