Nordic Capital's bid for Munters suffers set-back

Nordic's original bid for Munters at SEK 73 per share was last week beaten by rival bidder Alfa Laval's SEK 75 offer, but the investor made a second bid for SEK 77 this weekend.

The offer was made to a number of institutions with a stake in Munters, with the hope of gaining the support of at least 50% of the shares. Alfa Laval's share price of SEK 75 was accepted and recommended by the two main stakeholders of the company, provided that no competing offers of SEK 78.75 or higher were made.

Nordic Capital's recent offer of SEK 77 is reported to be the highest price the investor is willing to offer and is subject to the investor acquiring at least 50% of the shares. Nordic Capital has not been able to reach an agreement with a sufficient amount of shareholders, despite the higher share price compared with the rival bidder. The investor has said it is not yet in a position to withdraw or amend the offer.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Industrials
• Nordic Capital
• Sweden