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Provider: Reuters Investment Profile
Provider: Wright Reports

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Traction AB Places Mandatory Offer for Shares in Drillcon AB

Thursday, 1 Aug 2013 02:45am EDT 

Traction AB announced a mandatory cash offer for all shares in Drillcon AB at SEK 2.90 per share. On July 5, 2013, Traction acquired 759,750 shares in Drillcon, and following the transaction held approximately 31.7% of votes in Drillcon.A further 138,000 shares were acquired on July 8, 2013. Traction's shareholding in Drillcon amounted therefore to 14,275,179 shares, representing approximately 32% of share capital and votes. As a result, Traction made a cash offer under the rules on mandatory offers to other shareholders in Drillcon to tender all of their shares in Drillcon to at SEK 2.90 per share. The acceptance period for the offer is expected to last from August 12, 2013 until September 2, 2013. Remium Nordic AB is the financial advisor to Traction in connection to the offer. 

Company Quote

-0.75 -0.71%
10 Jul 2014