Salmon giant Salmar offers 11.8 billion kroner for competitor

Salmon exportPhoto: Gorm Kallestad / NTB

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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