Svedberg's comment on mandatory bid from Stena Adactum
Svedbergs i Dalstorp ABs (publ) ("Svedbergs" or "the Company") main owner Stena Adactum AB ("Stena Adactum") has announced that they have acquired shares in Svedbergs. Through the acquisition, Stena Adactum has attained a direct and indirect holding of 10,847,075 shares of series B in Svedbergs, corresponding to a holding of approximately 30.7 per cent of the shares and votes in the Company. Through the acquisition, the mandatory bid threshold is passed, entailing that Stena Adactum is required to launch a mandatory takeover offer for the remaining shares in Svedbergs within four weeks from the acquisition, or to sell such number of shares that Stena Adactum's shareholding represents less than three tenths of the voting rights for all shares in Svedbergs. Stena Adactum intends to launch a mandatory takeover offer for the remaining shares in Svedbergs through a separate press release, on or around 22 March 2022 at latest, for a cash consideration of SEK 50 per share. For further information, please refer to Stena Adactum's press release.
In order to handle questions about the bid, the Board has instructed the independent members of the Board to form an independent bidding committee to handle questions about the bid. The Chairman of the Board of Svedbergs Group, Anders Wassberg, who is also the CEO of Stena Adactum, has a conflict of interest and is not part of the bidding committee and will therefore not participate in handling or decisions related to the bid.
The committee will evaluate the bid and obtain a so-called fairness opinion. A statement on the Board's attitude to the bid is intended to be submitted well in advance of the expiry of the applicable acceptance deadline according to the bid that is published.
Svedbergs started in 1920 and the Group operates in the Nordic region and in the UK. The Group’s companies develop, design and sell bathroom furniture and related products. Under the motto collaboration without confusion, the Group’s companies continuously develop their product ranges for the entire bathroom. Through close cooperation with partners, the consumer’s desires are satisfied. The Group operates under the brands Svedbergs, Macro Design, Cassøe, Roper Rhodes, Tavistock and R2. The parent company Svedbergs i Dalstorp AB conducts its operations in Dalstorp outside of Ulricehamn and its subsidiary companies Macro Design in Laholm, Cassøe A/S in Herning Denmark and Roper Rhodes, including Tavistock and R2, in Bath, England.