shares in valora holding ag jumped on tuesday after it said that latin american retailer fomento economico mexicano sab has made an upto 12 billion allcash takeover offer for the swiss kiosk operator the offer by the monterreybased company better known as femsa of 260 swiss francs a share 27050 is equivalent to a premium of 52 of valoras closing share price on monday and 573 of the volumeweighted average of the past 60 trading days the baselbased company said shares at 1126 gmt were up 51 to chf25850 valora which operates around 2700 sales outlets in switzerland germany and other european countries said its board unanimously recommended that shareholders accept the offer the largest individual shareholder of valora ditsch ernst peter who owns a 169 stake supports the offer the company said valora whose brands include backwerk ditsch and servicestore db will continue to operate under its own company name becoming the retail arm of femsas proximity division in europe it said femsa an operator of convenience stores and pharmacies in latin america as well as a franchise bottler for cocacola co products intends to finance the purchase price entirely with available cash the transaction is expected to close at the end of september or beginning of october after which valora will be delisted from the stock exchange it said the news was a big and positive surprise stifel analyst pascal boll said in a research note the price is the best that shareholders get in the shortrun given that the share price has been consolidating since the onset of the pandemic he said separately valora said tuesday that firsthalf sales were up around 20 on year despite the effect of the omicron coronavirus variant and that earnings before interest and taxes would be slightly higher on the prioryear period