Hudson Completes Merger with Dufry AG
Hudson Ltd. (NYSE: HUD) announced its merger completion with Dufry AG, following a shareholder vote on November 30, 2020, which saw 98.59% approval for the Merger Agreement. Hudson is now an indirect wholly owned subsidiary of Dufry. As part of the agreement, Hudson's Class A shareholders will receive $7.70 per share in cash. Trading of Hudson's Class A common shares on the NYSE has been suspended, with delisting expected in about 10 days. This merger positions Hudson to enhance its travel retail operations as part of Dufry's global network.
- Shareholder approval achieved with 98.59% votes, indicating strong support.
- Shareholders will receive $7.70 per Class A share, providing immediate cash return.
- Hudson's Class A shares suspended from trading and upcoming delisting may impact liquidity.
- Merger creates integration challenges within Dufry's existing framework.
EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--Hudson Ltd. (NYSE: HUD) (“Hudson” or “Company”) today announced that it has completed the previously announced merger with Dufry AG (“Dufry”).
The closing of the transaction earlier today follows a special general meeting of Hudson’s shareholders held virtually on November 30, 2020, where Hudson’s shareholders voted to approve and adopt the Merger Agreement and the related Statutory Merger Agreement between Hudson, Dufry AG and Dufry Holdco Ltd., and the transactions contemplated thereby, including the merger, by
Following shareholder approval and pursuant to the terms of the Merger Agreement, Hudson became an indirect wholly owned subsidiary of Dufry. Hudson’s Class A shareholders are entitled to receive
In connection with the completion of the merger, trading in Hudson’s Class A common shares on the New York Stock Exchange has been suspended with immediate effect and the shares will be delisted in approximately 10 days.
About Hudson
Hudson, a Dufry Company, is a travel experience company turning the world of travel into a world of opportunity by being the Traveler’s Best Friend in more than 1,000 stores in airport, commuter hub, landmark, and tourist locations. Our team members care for travelers as friends at our travel convenience, specialty retail, duty free and food and beverage destinations. At the intersection of travel and retail, we partner with landlords and vendors, and take innovative, commercial approaches to deliver exceptional value. To learn more about how we can make your location a travel destination, please visit us at hudsongroup.com.
