Semcon shares balloon after counterbid from Ratos

Ratos AB

26/09/2022 08:19

** Shares of Semcon  SEMC.ST  rise 7% after Swedish private
equity firm Ratos  RATOb.ST  submits a recommended takeover
offer of SEK 157 per Semcon share  urn:newsml:reuters.com:*:nFWN30V0BR 
    ** The offer values the Swedish multinational technology
company at about SEK 2.84 bln and beats the earlier recommended
cash offer by Finland's Etteplan  ETTE.HE  at SEK 149 which in
August sent Semcon shares more than 30% higher
    ** Semcon board unanimously recommends its shareholders to
accept Ratos' offer, which is scheduled to open on Sept. 27 and
run until Oct. 27
    ** Ratos' offer represents a 39.1% premium to the
volume-weighted average price during the last 30 trading days
prior to the announcement of Etteplan's takeover bid
    ** Ratos has received undertakings from Semcon shareholders
representing 52% of the shares and votes in the company to
accept the offer 
    ** Shares in Ratos are down 2% in morning trade, while
Etteplan slides 1%
 (Reporting by Jacob Rasmussen)
 ((jacob.rasmussen@thomsonreuters.com))