On 4 July 2022, Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA), Monterrey, Mexico and Valora Holding AG, Muttenz, Switzerland, have entered into an agreement on the terms and conditions of a combination by way of a public tender offer by FEMSA for all publicly held registered shares of Valora. FEMSA offers CHF 260 in cash for each registered share of Valora, which corresponds to a transaction volume of around CHF 1.1 billion. The board of directors of Valora recommends to its shareholders to accept FEMSA's public tender offer. Valora's major shareholder, who holds around 17% of Valora's share capital, has committed to tender his Valora shares into the offer. Bär & Karrer is acting legal counsel of Valora in connection with the public tender offer. The team includes Mariel Hoch, Christoph Neeracher, Dieter Dubs, Fabienne Perlini, Marlene Lienau, Sophie Müller, Dominic Leu, Yascha Fengler, Marcel Lüscher, Luana Stämpfli, Lina Johner, Djawad Kleist (all M&A) as well as Mani Reinert (Antitrust) and Susanne Schreiber (Tax).