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The background is that Latour submitted a takeover bid for Allgon on December 14 at a price of SEK 10.75 in cash per share. A few days later, on December 22, investment firm Bure Equity submitted an offer of SEK 13.50 in cash per share.
“Based on the information available and the long-term return requirements of the Latour investment company, Latour Industries cannot justify an offer to Allgon shareholders that is higher than the offer of the competition,” Latour writes in the Press release.
Compliance with Latour’s offer was, among other things, conditional on no one else publishing an offer to acquire Allgon’s shares on terms that are more favorable to Allgon shareholders than the terms that apply in the offer, states the company.
“Due to competitive bidding, the above conditions cannot be met and failure to meet the condition is of great importance to the acquisition of Allgon by Latour Industries,” he states.
