However, the Board believes that the offered price of €18.36 per share may be "improved" because it "does not exhaust the intrinsic value of the company" nor does it include "premium for takeover", quotes EjePrime, alongside with the uncertainties that the takeover bid involves. Axiare assures, yet, that it accepts the takeover bid with its own securities held in treasury, equivalent to 0.677% of its capital.
Also the CEO, Luis López de Herrera-Oria has already announced that it will sell the €1.42 million portfolio in securities held in Axiare, representing 1.80% of the capital, worth about €26 million by price proposed in the takeover bid.
With this takeover bid, the two companies can merge, and give rise to the first group of rental office buildings in Spain.