A Dutch court blocked a vote on Monday on the proposed merger between Amsterdam-listed fertilizer maker OCI and Egypt’s Orascom Construction. The court in AmsterdamA Dutch court blocked a vote on Monday on the proposed merger between Amsterdam-listed fertilizer maker OCI and Egypt’s Orascom Construction. The court in Amsterdam
Dutch court blocks vote on contested OCI-Orascom deal
A Dutch court blocked a vote on Monday on the proposed merger between Amsterdam-listed fertilizer maker OCI and Egypt’s Orascom Construction.
The court in Amsterdam said the vote that had been planned for a shareholders’ meeting on January 22 could not take place, and appointed two non-executive board members to decide if the proposal had been prepared properly.
Dutch shareholders association VEB and OCI shareholder Norbury Capital had taken OCI to court, after it ignored their pleas last month to scrap the vote.
The shareholders said the transaction undervalued OCI, lacked a strategic rationale and had a clear conflict of interest as both companies have the Egyptian Sawiris family as their major shareholder.
The court said there was reason to believe that OCI’s board members had been influenced by controlling shareholder Nassef Sawiris and that the deal disadvantaged minority shareholders of the company.
Further reading:
- Egypt’s Orascom to list on Abu Dhabi bourse this month
- Orascom Construction’s US revenue softens Mena decline
- Orascom wins $2.6bn contract for Saudi power plant
Market Opportunity
Overtake Price(TAKE)
$0.04719
$0.04719$0.04719
USD
Overtake (TAKE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC
The post Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC appeared on BitcoinEthereumNews.com. Franklin Templeton CEO Jenny Johnson has weighed in on whether the Federal Reserve should make a 25 basis points (bps) Fed rate cut or 50 bps cut. This comes ahead of the Fed decision today at today’s FOMC meeting, with the market pricing in a 25 bps cut. Bitcoin and the broader crypto market are currently trading flat ahead of the rate cut decision. Franklin Templeton CEO Weighs In On Potential FOMC Decision In a CNBC interview, Jenny Johnson said that she expects the Fed to make a 25 bps cut today instead of a 50 bps cut. She acknowledged the jobs data, which suggested that the labor market is weakening. However, she noted that this data is backward-looking, indicating that it doesn’t show the current state of the economy. She alluded to the wage growth, which she remarked is an indication of a robust labor market. She added that retail sales are up and that consumers are still spending, despite inflation being sticky at 3%, which makes a case for why the FOMC should opt against a 50-basis-point Fed rate cut. In line with this, the Franklin Templeton CEO said that she would go with a 25 bps rate cut if she were Jerome Powell. She remarked that the Fed still has the October and December FOMC meetings to make further cuts if the incoming data warrants it. Johnson also asserted that the data show a robust economy. However, she noted that there can’t be an argument for no Fed rate cut since Powell already signaled at Jackson Hole that they were likely to lower interest rates at this meeting due to concerns over a weakening labor market. Notably, her comment comes as experts argue for both sides on why the Fed should make a 25 bps cut or…
Share
BitcoinEthereumNews2025/09/18 00:36
Tom Lee’s Bitmine Scoops Up 3.4% of Ethereum, Triggering a Supply Squeeze
Bitmine Immersion now controls 3.4% of Ethereum amid shrinking exchange supply and rising institutional accumulation.
Share
Crypto Breaking News2026/01/20 16:27
Pendle introduces the sPENDLE mechanism to replace vePENDLE and introduce liquidity staking.
PANews reported on January 20th that, according to an official Pendle announcement, vePENDLE will be completely replaced by the sPENDLE mechanism. sPENDLE is a
Share
PANews2026/01/20 16:38