Redeye comments briefly on Sleep Cycle's proposal to acquire Altor-related lifestyle music label Audiowell for SEK2,255m, paid entirely in new Sleep Cycle shares at SEK24.50. The deal is a reverse merger: existing shareholders are diluted to c.18%, Audiowell's owner takes c.82%, and a mandatory bid at SEK24.50 follows — in effect a second exit window at the original offer price.
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