Gramo BV has formally launched its mandatory public cash takeover bid for Deceuninck NV after receiving approval from the Belgian Financial Services and Markets Authority (FSMA) for the offer prospectus.
The launch marks the next stage in the takeover process after Deceuninck confirmed in June that it had been informed of Gramo BV’s intention to make a mandatory offer, following the investor exceeding the 30% ownership threshold under Belgian takeover regulations.
The mandatory bid was triggered after Gramo exercised 1,050,000 warrants on 11 June 2026, increasing its holding in Deceuninck from 29.99% to 30.52% of the company’s issued share capital. Under Belgian takeover law, shareholders crossing the 30% threshold are required to launch an offer for all remaining voting securities they do not already own.
According to the approved prospectus, the initial acceptance period opens on 16 July 2026 and closes on 30 July 2026 at 4:00pm CET. During this period, shareholders may tender their shares in accordance with the terms set out in the offer documentation.
The offer price has been set at €2.11 per Deceuninck share, payable in cash. The results of the initial acceptance period are expected to be announced on or around 6 August 2026, with settlement for shares tendered during the first acceptance period anticipated no later than 20 August 2026.
Gramo has also confirmed that it does not intend to seek the delisting of Deceuninck from Euronext Brussels following completion of the mandatory offer. The bidder has further stated that it does not currently intend to voluntarily reopen the offer or initiate a simplified squeeze-out procedure after the initial acceptance period.
Deceuninck has published the bidder’s announcement on its own investor relations website as part of its regulatory disclosure obligations. The company has not announced any change to its operations or strategy in connection with the launch of the mandatory offer.
The launch of the offer represents the formal execution of the mandatory takeover process first disclosed by Deceuninck in June, with shareholders now able to decide whether to tender their shares during the acceptance period.
Read the full press release here: https://www.deceuninck.com/wp-content/uploads/2026/07/Gramo-BV-press-release-launch-bid-ENG.pdf
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