Brief: Softwareone And Crayon Have Agreed To Combine

SoftwareOne Holding AG

19/12/2024 06:04

Dec 19 (Reuters) - Crayon Group Holding ASA  CRAYN.OL :
    * SOFTWAREONE AND CRAYON: COMBINING TWO LEADING GLOBAL
PROVIDERS
OF SOFTWARE AND CLOUD SOLUTIONS
    * SOFTWAREONE HOLDING AG AND CRAYON GROUP HOLDING ASA HAVE
AGREED
TO COMBINE.
    * SOFTWAREONE WILL LAUNCH A RECOMMENDED VOLUNTARY STOCK AND
CASH
OFFER TO ACQUIRE ALL OUTSTANDING SHARES IN CRAYON
    * CRAYON SHAREHOLDERS TO BE OFFERED 0.8233 NEW SHARES IN
SOFTWAREONE AND NOK 69 IN CASH FOR EACH CRAYON SHARE
    * OFFER BASED ON A VALUATION OF CRAYON AT NOK 172.5 PER
SHARE,
REPRESENTING A PREMIUM OF 36%
    * RUN-RATE COST SYNERGIES OF CHF 80-100 MILLION TO BE
REACHED
WITHIN 18 MONTHS OF COMPLETION
    * COMPLETION OF TRANSACTION EXPECTED IN Q3 2025
    * TRANSACTION WILL BE FINANCED BY INVESTMENT GRADE BRIDGE
FACILITIES OF APPROXIMATELY CHF 700 MILLION
    * SOFTWAREONE EXPECTS TO MAINTAIN ITS CURRENT DIVIDEND
POLICY
    * COMBINED COMPANY WILL HAVE ITS LEGAL DOMICILE IN STANS,
SWITZERLAND

Source text:  ID:nObicQmmba 
Further company coverage:  CRAYN.OL 

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