Sweden’s Momentum Group on Monday, November 11, launched an offer to buy tools and workwear supplier Swedol for 46.50 crowns (US$4.79) per share, a merger with its Tools business would boost margins, sales, and profits.
Momentum Group, a reseller of industrial consumables and components, stated Swedol’s shareholders could choose between a cash offer or swap each Swedol share for 0.40 B-shares in Momentum.
Swedol’s independent bid committee unanimously recommended the cash offer. Momentum Group said in a statement that the cash offer represents a premium of 39.0% compared to Swedol’s closing price on Friday, while the share consideration represents a premium of 25.1% based on the closing prices of both companies’ shares.
Full Content: Reuters
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