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Atea ASA Announces Discussions Regarding Potential Offer for Acquisition of Company's Shares


Wednesday, 17 Oct 2012 06:54am EDT 

Atea ASA announced that on the basis of certain media enquiries, the Company confirms that certain shareholders and the Board of Directors of the Company are currently in discussions with an international private equity fund regarding a potential recommended offer for the shares in the Company following a strategic review initiated by the Company. The Company's main shareholder, Systemintegration ApS, is negotiating selling all its shares at a price of NOK 65 per share, subject to completion of a recommended public voluntary tender offer for all other shares of the Company of NOK 70 per share. The Board of Directors of the Company has concluded that it will recommend the potential offer with an offer price of NOK 70 per share. The potential bidder has set as a condition to launch a public voluntary offer that a sufficient level of pre-acceptances is reached at an offer price of NOK 70 per share. Certain other shareholders have already committed to support the potential offer, and the potential bidder will continue seeking support from additional shareholders to reach the required pre-acceptance level. The discussions are not yet concluded and no agreement has been reached. There can be no certainty that the discussions will lead to an offer for the shares. Further announcements will be made when appropriate. The Board of Directors has engaged SEB Enskilda as its financial adviser related to the potential offer. 

Company Quote

72.0
0.75 +1.05%
22 Aug 2014