Economy
Multichoice Rejects Canal+ $2.5bn Acquisition Offer
By Adedapo Adesanya
Multichoice has turned down the $2.5 billion acquisition offer by French media company, Canal+.
The company disclosed this in a notice to its shareholders on Monday.
Multichoice said it turned down the acquisition offer because the R105 per share being proposed by Canal+ undervalues the company.
“After careful consideration, the board has concluded that the proposed offer price of R105 in cash significantly undervalues the group and its prospects. The board has reached this conclusion taking into account all relevant considerations, including the following:
“MultiChoice has recently conducted a valuation exercise, which has valued MultiChoice significantly above R105 a share.
“MultiChoice’s valuation excludes any potential synergies which may arise from the envisaged transaction.”
“In this regard Canal+ has, following the lengthy discussions between the parties, repeatedly conveyed to the public what it sees as the advantages of the combined entity and therefore seemingly takes the view that there are significant synergies. These synergies need to be factored into any fair offer made by Canal+” Multichoice added.
The group, owned by Vivendi, announced last Thursday that it had submitted an offer to acquire the South African Pay TV company, which owns DSTV.
Canal+ is currently the top shareholder in MultiChoice with a 31.67 per cent stake and is seeking full control and the drawback will likely see the company push to increase its stake.
South African regulatory law says a 35 per cent ownership will require the French broadcaster to make a mandatory offer to Multichoice shareholders.
The company’s board noted that while it is open to all means of maximizing shareholder value, it has conveyed to Canal+ that – at this proposed price – the letter does not provide a basis for further engagement.
“Caution is accordingly no longer required to be exercised by shareholders when dealing in their securities. In keeping with its duty to act in the best interests of the company, the board remains open to engaging with any party in respect of any offer which is for a fair price and is subject to appropriate conditions.
“Moreover, it goes without saying that the Board will continue to act in accordance with its duties in the applicable provisions of the Takeover Regulations regarding any formal and binding offer,” the company added.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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