Union Chimique Participation, Entremont Family and Rosnoblet Family made a mandatory tender offer to acquire remaining 19.3% stake in PSB Industries (ENXTPA:PSB) for €20.8 million on March 25, 2021. The shares will be acquired at €30 per share. If the minority shareholders hold less than 10% of the share capital and voting rights of PSB Industries upon closing of the offer period, Union Chimique Participation, Entremont Family and Rosnoblet Family intend to initiate a squeeze-out procedure. The Board of Directors of PSB has set up an ad hoc committee which comprises its four independent directors. Charles de Reals of Gide Loyrette Nouel A.A.R.P.I. acted as legal advisor while Judith Fargeot and Jean-Luc Bédos of Vivien & Associés acted as legal advisors to Union Chimique Participation, Entremont Family and Rosnoblet Family. Marie-Ange Farthouat of Farthouat Finance was appointed as independent appraiser to issue a fairness opinion on the financial terms of the offer. Union Chimique Participation, Entremont Family and Rosnoblet Family completed the tender offer to acquire remaining 19.3% stake in PSB Industries (ENXTPA:PSB) on May 28, 2021.