Monday, 20 August 2007

The end of Berardo's "OPA" for Benfica

It's official. Less than 1% of Benfica's free float accepted the offer by Joe Berardo to takeover of at least 30% of the stocks for 3,5€ each.
No surprise here since the market price for Benfica's stock has been quite below the takeover target for several weeks.
As a "compensation" Joe Berardo states that he will consider to reinforce his participation in Benfica's capital, probably by buying stoke in the "live" market.

Today it's been a(nother) Benfica's day in the news. Fernando Santos the soccer team main coach was kicked off and rumour (well, almost certainty) says that Jose Antonio Camacho is returning. In the next days Benfica will play the very important second hand of the play-off to enter Champions League. It has a small lead of 2:1 and it will play abroad facing FC Copenhagen. A few millions of euros of prize money are at stake. Not the most orthodox timing to change coach, right?
Benfica's stock are nevertheless climbing 0.93% to 3,25€ (16:38 GMT).

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