Criteo SA (CRTO) News & EventsCRTONews & EventsCriteo SA

Criteo Completes Legal Domicile Transfer to Luxembourg

Criteo announced the completion of the previously announced transfer of its legal domicile from France to Luxembourg via a cross-border conversion, effective July 29. In connection with the conversion, the company terminated its American depositary share, or ADS, program, and each holder of ADSs at the time of the conversion mandatorily surrendered such ADSs, automatically receiving instead one ordinary share of the company per ADS. The ordinary shares of the company will begin directly trading on Nasdaq under the same ticker symbol (CRTO) upon market open. Following the conversion and the completion of the company's works council consultation, the board of directors of Criteo approved the subsequent transfer of the company's legal domicile from Luxembourg to the United States, which will be achieved via a cross-border merger of the company with and into a wholly owned U.S. subsidiary. The U.S. Merger is subject to shareholder approval and other customary conditions, and is expected to be completed in January 2027.

Citi Analyst: Criteo Acquisition Bid Around $27 Per Share

After Bloomberg reported that Vista Equity Partners and Quinti Capital had submitted an acquisition bid for Criteo valuing it at a 50% premium to recent trading levels, Citi analyst Ronald Josey believes this suggests a price of about $27 per share based on the average stock price in June. The firm, which emerged from management meetings with Criteo at Cannes and in May "incrementally positive," believes the reported proposed acquisition offer highlights the strategic value of Criteo's commerce data assets, cross-device ID graph, and recent traction with OpenAI. The firm keeps a Buy rating and $26 price target on Criteo shares.