Webuild has published the offer document for its voluntary all-cash tender offer on Trevi – Finanziaria Industriale, approved by Consob on 15 September. The acceptance period is scheduled to run from 28 September to 20 November 2026, unless extended, at €4.50 per share.
Calendar and consideration
The offer opens at 08:30 on 28 September and closes at 17:30 on 20 November 2026. Payment is scheduled for 27 November 2026, subject to any timetable changes. Webuild said the €4.50 consideration represented a 29.8% premium to Trevi’s 26 June 2026 closing price, the last trading day before ICOP announced its competing offer.
Competing offer
Webuild’s cash tender offer is separate from ICOP’s voluntary exchange offer for Trevi shares. Shareholders must therefore refer to the respective offer documents, conditions and procedures for each transaction.
Industrial rationale
Webuild presents the transaction as a way to integrate Trevi’s special-foundation expertise into its international infrastructure platform while preserving Trevi’s identity, operating base in Italy and technical capabilities.
The company
Trevi-Finanziaria Industriale is the holding company of the Trevi Group, active in underground engineering and special foundations. Its shares trade on Euronext Milan under ticker TFIN, ISIN IT0005709909.
Market data
The latest verified official snapshot was 17 September 2026 at 14:53:00: last trade €4.72, up 0.21%; opening €4.68, high €4.74, low €4.68; 22,448 shares across 188 trades.
IFM – Italian Financial Markets 