Purmo, a company that specializes in air conditioning solutions, has received a new purchase offer for its shares from Project Grand Bidco Limited. The improved offer includes a cash consideration of 11.15 euros for the C shares and 6.75 euros for the F shares. Additionally, the minimum acceptance condition has been lowered to more than 80 percent of all shares, down from the previous requirement of over 90 percent.
Previously, the offer was 9.91 euros for C shares and 6.00 euros for F shares, so the new offer represents a significant improvement. Rettig, Purmo’s largest owner and part of the purchasing consortium, has confirmed their intention to sell all C shares representing approximately 61.8 percent of the company’s shares. With Rettig’s commitment and irrevocable commitments from other shareholders totaling approximately 90.34 percent of all shares, it is likely that the purchase offer will be successful.
Purmo is expected to officially announce this improvement in a stock exchange release on Friday and its board of directors recommends shareholders accept the offer. The transaction is set to be completed at the new offer price in July 2024 and an extension has been made to ensure all shareholders have ample time to consider it before making a decision on whether or not to accept it
