73% acceptance rate and recommended by the BoD
Aros Bostad this morning announced a public offer for the residential developer peer Besqab. The offer is an all-share bid (~15% preference shares, ~85% ordinary shares) and values Besqab at ~SEK 1.85bn. The bid is accepted by shareholders owning 73% of the shares and is recommended by the Besqab BoD. We expect the bid to be successful. The bid value is broadly in line with the reported equity/book value in Besqab.
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