IT infrastructure solutions provider Atea (OSE: ATEA) released information that some shareholders and the Board are discussing with an international private equity firm on a possible recommended offer for all shares in the company. This was done due to media inquiries on the matter, suggesting someone was getting wind on the matter.
The largest owner Systemintegration ApS, which is controlled by Danish investor Ib Kunøe who most recently controlled 28.46% of the shares, is negotiating to sell at 65 NOK per share subject to a completion of a recommended public voluntary tender offer for all other shares of the company at 70 NOK per share.
The potential bidder has set a conditional pre-acceptances level for the 70 NOK offer with some large shareholders already having committed to selling. The Board stresses that discussions aren’t complete. The stock hopped from 57 NOK to trade above 65 NOK following a halt. The company is set to release Q3 2012 data on Thursday.
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