H Intressenter has raised its offer to Höganäs’ shareholders in a bid to increase its stake the Swedish iron powder maker.
The offer now stands at SEK 337.50 per share, an increase of SEK 12.50, but is conditional on H Intressenter obtaining control of more than 90% of the shares in company. Höganäs’ Board of Directors has recommended that shareholders accept the increased offer, which was extended to September 20.
It was reported that H Intressenter has also entered into agreements with Didner & Gerge Fonder and Swedbank Robur Fonder to acquire all their shares in Höganäs, corresponding to 12.1% of the shares and 9.8% of the votes.
It was stated that as of August 20 H Intressenter had acquired 51.2% of the shares and 61.4% of the votes in Höganäs.