The Austrian company Palfinger wants buy the Bergen industrial group TTS Group for 600 million.
The Board of TTS has agreed to recommend the proposed offer to shareholders, reports E24.
Palfinger offers to acquire all shares in TTS Group at 5.60 kroner per share. This involves a “bonus” of 65 per cent of TTS’s closing share price on Friday 17 June.
The largest owners of TTS Group are currently Skeie family, Rasmussengruppen, Holberg Norway, Barrus Capital and Skagen Growth.
CEO Toril Eidesvik in TTS Group said in a statement that teaming up with Palfinger will provide significant synergies and create a solid platform for planned growth.
Source: NTB scanpix / Norway Today