Offering indoor air solutions Purmo Group informs that the company’s board has updated its statement regarding the purchase offer.
According to the release, Purmo’s board of directors maintains its recommendation to Purmo’s shareholders Prorject Grand Bidcon acceptance of the purchase offer.
Haier Europe Appliances has made a competing offer for Purmo. According to the board’s statement, Haier’s purchase offer does not have sufficient support from major shareholders.
According to the company’s press release, Haier’s purchase offer offers shareholders a better price compared to Grand’s purchase offer, but it also contains more risks and uncertainty regarding the implementation and implementation schedule of Haier’s purchase offer.
“Even if Haier’s purchase offer were to be successfully implemented, its implementation and the payment of the offer consideration to the shareholders would take place significantly later than in the case of Grand’s purchase offer,” the release states.
Purmo’s board is ready to reevaluate its recommendation, should Haier’s chance of reaching the 80 percent minimum approval condition be reached.
The purchasing consortium of Apollo and Rettig offers Purmo C shares EUR 11.15 each and F shares EUR 6.75 each.
Haier offers 13.59 euros for Purmo’s C shares.
Source: www.arvopaperi.fi
