Veolia Makes Progress in Legal Fight Over Suez Poison Pill (1)

Veolia Environnement SA won the latest legal skirmish in its battle to acquire Suez SA, after a court ruled to prevent a “poison pill” that was created to frustrate the takeover being made permanent without shareholder approval.

The decision doesn’t eliminate the potential legal blockage to a full takeover of Suez, and came just hours after Veolia lost a separate case that could prolong what already promises to be a lengthy and contentions acquisition process. Suez remains opposed to the approach from its rival, which it says undervalues the company and will result in job losses.

On Thursday, the ...