SWEDEN - Securitas Direct board recommends rejecting EQT's offer

The board of directors of Securitas Direct has released a statement where they recommend the share and warrant holders in the company NOT to accept ESML Intressenter AB, jointly owned by EQT V (ca 64%), Säkl AB (ca8%), Melker Schörling AB (MSAB) (ca 10%) and Investment AB Latour (ca 17%), bid for SEK 26 and SEK 8.60 respectively. The board believes the bid does not reflect the true value of the company. The committee also regarded JP Morgan and SEB Enskilda’s independent opinions on the valuation to be inadequate.