Project Grand Bidco Limitedin of all Purmon the final result of the public tender offer for the shares has been published. The buying consortium will implement the offer and start the subsequent offer period, states the stock exchange release.
The current principal owners of Purmo are involved in the purchase consortium Rightfully so and a US venture capitalist Apollo.
The more than 40 million shares for which the purchase offer has been validly accepted and the approval has not been validly withdrawn, or which Purmo’s shareholders have otherwise committed to sell to the offeror, represent a total of approximately 94.53 percent of all shares, the release states.
“Since the minimum acceptance condition and all other conditions for implementing the purchase offer have been met, the offeror will implement the purchase offer in accordance with its terms.”
The offer consideration will be paid to each Purmo shareholder on approximately August 16, 2024. The buyer consortium is acquiring the Purmo shares at a price of EUR 11.06 per share.
In order to also offer the remaining shareholders the opportunity to accept the purchase offer, the offeror has decided to start a subsequent offer period. The offer period starts on August 5 at 9:30 a.m. and ends on August 19 at 4:00 p.m.
Another willing Purmo buyer Haier had to withdraw from the competition when it could not persuade the Rettigs to accept its own offer of 13.59 euros per share.
Both Rettigit (61.80 percent of the share capital) and Purmo’s board member Matts Rosenberg (0.02 percent of the stock) announced that they had sold their position in the company to a buying consortium on Friday evening around five o’clock.
(Rettigie’s and Rosenberg’s stock transactions were updated to the text around 6:30 on Friday evening.)
Source: www.arvopaperi.fi
