Brief: OEM International Receives Takeover Offer From EQT X At 12.3% Discount

OEM International AB

05/11/2024 07:15

Nov 5 (Reuters) - OEM International AB  OEMb.ST :
    * STATEMENT FROM THE INDEPENDENT BID COMMITTEE OF OEM
INTERNATIONAL IN RELATION TO THE PUBLIC TAKEOVER OFFER BY EQT X
    * OFFER REPRESENTS 12.3% DISCOUNT COMPARED TO CLOSING PRICE
OF SEK
125.40 OF OEM INTERNATIONAL'S CLASS B SHARES ON NASDAQ STOCKHOLM
ON 4 NOVEMBER 2024
    * FOUR LARGEST SHAREHOLDERS IN TERMS OF VOTES, ORVAUS AB,
SIV
FRANZÉN, AGNE SVENBERG AND AB TRACTION HAVE IRREVOCABLY
UNDERTAKEN TO EQT TO ACCEPT OFFER IN RESPECT OF A MAJORITY OF
THEIR RESPECTIVE SHAREHOLDINGS
    * UNDERTAKINGS FROM FOUR LARGEST SHAREHOLDERS APPLY EVEN IF
A
HIGHER COMPETING OFFER WOULD BE ANNOUNCED
    * EQT X THROUGH OAK BIDCO S.À R.L. HAS TODAY ANNOUNCED A
PUBLIC
OFFER TO SHAREHOLDERS OF OEM INTERNATIONAL TO TENDER ALL THEIR
SHARES IN COMPANY TO EQT AT A PRICE OF SEK 110 IN CASH PER SHARE
    * OFFER IS NOT CONDITIONAL UPON A CERTAIN MINIMUM ACCEPTANCE
LEVEL
    * COMPLETION OF OFFER WOULD ALLOW ALL SHAREHOLDERS ELECTION
BETWEEN REALISING SHAREHOLDINGS FOR CASH CONSIDERATION AT SAME
PRICE AS KEY OWNERS, OR REMAINING AS A LONG-TERM SHAREHOLDER
UNDER NEW MAIN SHAREHOLDER
    * BID COMMITTEE HAS UNANIMOUSLY DECIDED TO RECOMMEND
SHAREHOLDERS
NOT TO ACCEPT OFFER
    * HOWEVER, BID COMMITTEE LOOKS FAVOURABLY ON ORDERLY CHANGE
OF
CONTROL THAT OFFER WILL ENABLE

Source text:  ID:nMFN3d1MPz 
Further company coverage:  OEMb.ST 

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