(RTTNews) - Nilörngruppen AB (NLLGF, NIL-B.ST), on Monday published its board statement recommending shareholders accept a public cash takeover offer from Trimco Group Ltd. in UK at approximately SEK 878 million.
The offer price stands at SEK 77 per share, to be paid fully in cash.
The acceptance period is expected to run from around June 19 to July 10.
The offer is conditional on the bidder securing more than 90% ownership in Nilörngruppen.
The company said that the major shareholder AB Traction (TRAC-B.ST), holding about 26.3% of shares and 58.1% of voting rights, has irrevocably agreed to accept the offer.
The board unanimously recommended shareholders tender their shares, citing a fairness opinion from Stockholm Corporate Finance AB, which concluded the offer is fair from a financial perspective.
Additional shareholders, including Protector Forsikring ASA, Kavaljer Fonder, and CEO Krister Magnusson, together representing around 8% of shares, have also committed to tender their shares under certain conditions.
On Friday, 1.23% lesser at SEK 241 on the Stockholm Stock Exchange.
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