Irish Timber Giant Norvik Inches Towards Bergs Timber Takeover

"Shareholders of Bergs Timber AB to Vote on SEK1.54bn Takeover Offer from Norvik hf"

The extraordinary general meeting of Bergs Timber AB shareholders has been scheduled for December 27th to discuss and approve the takeover offer from Norvik hf, which amounts to approximately SEK1.54bn (approximately EUR 135.52 million). This meeting, taking place in Stockholm, comes after Norvik hf shareholders decided on November 29th to proceed with the public takeover offer to shareholders of Bergs Timber. The offer was initially announced by Norvik hf on October 27th through its wholly-owned subsidiary, Kivron AB.

The total value of the offer, based on all outstanding shares in Bergs Timber, is estimated to be around SEK1.54bn. This offer represents a significant opportunity for the shareholders of Bergs Timber, as it provides a substantial financial benefit. The shareholders will have the chance to evaluate the offer and make an informed decision during the extraordinary general meeting.

Norvik hf, a leading international timber company, has been actively pursuing the acquisition of Bergs Timber. The company aims to expand its presence in the timber industry and strengthen its position in the market. The takeover offer presents a mutually beneficial opportunity for both Norvik hf and Bergs Timber.

The extraordinary general meeting will serve as a platform for shareholders to discuss and deliberate on the offer. It is important for the shareholders to carefully consider the terms and conditions of the offer, as well as the potential benefits and risks associated with accepting it. The meeting will provide an opportunity for shareholders to voice their opinions and concerns, ensuring a transparent and democratic decision-making process.

If the takeover offer is approved by the shareholders during the extraordinary general meeting, it will mark a significant milestone for both Norvik hf and Bergs Timber. The acquisition will allow Norvik hf to expand its operations and enhance its market position, while providing Bergs Timber shareholders with a favorable financial outcome.

The successful completion of the public takeover offer will depend on the approval of the shareholders during the extraordinary general meeting. Therefore, it is crucial for the shareholders to attend the meeting and actively participate in the decision-making process. Their input and engagement will be instrumental in determining the future course of action for Bergs Timber.

Overall, the extraordinary general meeting of Bergs Timber AB shareholders on December 27th will be a significant event in the company’s history. It will provide an opportunity for shareholders to evaluate and decide on the SEK1.54bn takeover offer from Norvik hf. The outcome of the meeting will shape the future of both companies and have a lasting impact on the timber industry as a whole.

John O Mahony

John O Mahony

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