Swedish powder producer Höganäs AB has announced that H Intressenter now controls approximately 96.1% of the shares and approximately 97.6% of the votes in the company.
The offer to the shareholders in Höganäs has now been accepted to such extent that the final price of the offer will be SEK 337.50 per share. Höganäs state that the acceptance period has been extended to October 11 2013 in order to allow for remaining shareholders in the company to sell and receive payment for their shares and avoid having to await compulsory acquisition.
H Intressenter AB, a company jointly owned by Lindengruppen AB and Foundation Asset Management Sweden AB (FAM), announced on 11th February 2013 a public offer to purchase all shares in Höganäs AB.
Lindéngruppen has been a long-standing owner of Höganäs through its full ownership from 1987-1994 and was the largest shareholder since the public listing in 1994. Lindengruppen has undertaken to transfer all of its shares in Höganäs to H Intressenter, provided that the offer is completed.
Foundation Asset Management stated that it has significant experience from owning and developing industrial companies and a strong global network in sectors that are relevant to Höganäs.