Shareholders of French retailer Fnac Darty are awaiting a tender offer deadline after the European Commission cleared EP Group’s planned acquisition, removing the final approval the companies had expected.
Fnac Darty said EP Group is offering €35 for each share after the retailer paid a €1 dividend on June 5, 2026, for its 2025 financial year. The offer also covers OCEANEs, Fnac Darty’s convertible bonds, at €81.16 each under the settlement assumptions in the company’s announcement.
The bond price assumes interest from March 23, 2026, through an illustrative settlement date of Nov. 12, 2026. That date is an assumption used to calculate the price; the deadline for investors to accept the offer has yet to be announced.
EP Group controls the bidder, EP FR HOLDCo. Fnac Darty’s board issued a favorable opinion on the offer after a recommendation from its Ad Hoc Committee. Independent expert Ledouble found the financial terms fair to shareholders and OCEANE holders.
The Autorité des marchés financiers (AMF), France’s financial markets regulator, approved the offer on May 7, 2026. It also granted visas to EP FR HOLDCo’s offer document and Fnac Darty’s response document. The European Commission’s decision concerns the planned acquisition, a separate step from the French regulator’s approval of the offer.
Fnac Darty sells consumer electronics, household appliances, and cultural and leisure goods. It operates in 15 countries and reported more than €10 billion in 2025 sales. The company says it has around 1,500 stores and nearly 30,000 employees, and its 2030 strategy calls for further expansion in Europe.
Fnac Darty said the AMF will publish the remaining timetable, including the closing date, in the coming days. Fnac Darty and EP FR HOLDCo expect the offer to close at the beginning of November 2026.
