Adevinta soars on non-binding takeover offer

Adevinta ASA

22/09/2023 08:11

** Shares in Adevinta  ADEA.OL  rise 20% after the Norwegian
online classifieds group received on Thursday a non-binding
takeover offer from a consortium co-led by Blackstone  BX.N  and
Permira
    ** Jefferies says its base case for the bid is an offer
price of 115 Norwegian crowns per share, 34% above Thursday's
closing price
    ** "We don't see alternative bidders emerging," the broker
says
    ** eBay  EBAY.O  and Norwegian media group Schibsted
 SCHA.OL , which own in total 61% of shares in Adevinta, said on
Thursday they support the bid
    ** Jefferies says the offer would represent a good outcome
for Schibsted, likely resulting in larger buybacks
    ** Schibsted shares soar 11%

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))