OX2 jumps 42% after cash offer from EQT

OX2 AB (publ)

13/05/2024 08:25

** Shares in Swedish renewable energy platform OX2  OX2SE.ST 
jump 42% to late January highs after private equity firm EQT
 EQTAB.ST  said it has made a recommended cash offer to buy OX2
    ** EQT said in a statement it was offering 60 crowns per
share for OX2, 43% above OX2's closing price on Friday, valuing
the offer at 16.4 billion crowns ($1.51 billion)
    ** It said OX2's main owner Peas Industries, which holds 46%
of shares and votes, has undertaken to accept the offer, and
that an OX2 independent bid committee unanimously recommended
that shareholders accept it
    ** If gains hold, OX2's stock will see its best day ever; up
to the previous session's close, it was down 24%​ YTD
    ** EQT's stock slips 0.2%

($1 = 10.8433 Swedish crowns)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))