Salmon giant Salmar offers 11.8 billion kroner for competitor
Salmon company Salmar has submitted a bid of NOK 11.8 billion for Norway Royal Salmon (NRS). The bid is 12.5% higher than the bid from NTS.
“Salmar intends to make an offer to buy all outstanding shares in Norway Royal Salmon (NRS),” the Witzøe-controlled company Salmar stated in a stock exchange announcement on Friday.
The announcement states that the offer is NOK 270 per share. The offer values the company at approximately NOK 11,764 million. According to the newspaper Finansavisen, the bid is 12.5% higher than the bid from the aquaculture group NTS.
“Norway Royal Salmon and Salmar have several overlapping industrial activities, both in Northern Norway, in parts of Iceland, and offshore. A merger will make it possible to realize great synergies “, Salmar wrote.
E24 has been in contact with Karl Johan Bakken, a board member of NRS, and he said that “the board would issue a statement on the offer from Salmar soon.”
The NRS share closed at a price of NOK 243 on Thursday. At 11 o’clock on Friday, the price had risen 13.5%, to 276.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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