Beijer Ref tops STOXX after MSAB becomes largest shareholder by votes
BUZZ-Beijer Ref tops STOXX after MSAB becomes largest shareholder by votes ** Shares in Beijer Ref BEIJb.ST rise about 6% to the top of the STOXX 600 index .STOXX after MSAB agreed to buy EQT’s EQTAB.ST and Peter Jessen Jürgensen’s holdings of the company's A-shares
** As a result, MSAB becomes the largest shareholder in Beijer Ref in terms of voting rights, with 14.1% of the votes and 2.1% of the share capital
** “We see the news positively, which is also reflected in the share price rise,” SB1 Markets said in a note published via Swedbank Aktiellt equity research service
** "MSAB brings a high-quality, long-term industrial ownership profile with a strong track record in value creation and capital discipline, which we view as well aligned with Beijer Ref’s decentralized growth strategy," Jefferies says
** While the deal has no impact on operations or strategy, the shift in ownership modestly enhances the quality of the equity story, Jefferies added
** The stock pares earlier gains of up to 10% but is still on track for its best day in 13 months if the remaining gains hold
(Reporting by Alexander Klyve Gudbrandsen and Izabela Niemiec)