Ahlstrom-Munskjö share offer period has commenced

05.11.2020 − 

The offer period for a proposal put forward by Spa Holdings 3 on 24 September to buy all shares in Ahlstrom-Munksjö, began on 22 October. The Finnish Financial Supervisory Authority had previously approved the offer documents submitted by Spa Holdings. The offer period runs until 30 December, meaning that the final date has been brought forward by a few days. The original plan was for the offer document to be published on 24 October, with the offer period lasting from 26 October to 4 January.

Spa Holdings had offered to pay €18.10 for each share. This price per share will be reduced to reflect dividend payments made to shareholders by the closing date. On 30 September, the Board of Directors approved a dividend of €0.13 per share. This sum was paid out on 9 October, lowering the offer price to €17.97. The next dividend payment is set for January based on a resolution passed at this year’s annual general meeting. Spa Holdings plans to finalise the purchase of shares in Ahlstrom-Munksjö during the first quarter.

On 16 October, Ahlstrom-Munksjö’s Board of Directors recommended that shareholders accept this offer, pointing to a fairness opinion from UBS Europe, which described the offered price as fair.

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