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Catena extends offer to acquire Klockarbäcken Property

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Catena extends offer to acquire Klockarbäcken Property

Catena AB extended the acceptance period for its offer to acquire Klockarbäcken Property Investment AB to Nov. 8.

At the end of the initial acceptance period on Oct. 17, the offer was accepted by shareholders representing 895,569 shares, reflecting roughly 67.8% of the total number of shares and votes in Klockarbäcken.

According to a release, the relationship between the companies' shares implies a bid value of 112.88 Swedish kronor per share in Klockarbäcken, based on the closing price for shares in Catena on Oct. 18, higher than the Oct. 2 bid value of 110 kronor per share.

As of Oct. 17, US$1 was equivalent to 8.16 Swedish kronor.