The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA has been approved and published by the Oslo Stock Exchange following a detailed review. PALFINGER aims to acquire 100 per cent of the TTS shares. Alongside the necessary anti-trust approvals, the offer is also subject to the condition that at least 90% of all the shares in TTS be offered to the PALFINGER Group. PALFINGER has already secured acceptance of a total of approximately 66.3%. The initial deadline for acceptance of the offer is 12 August 2016. The Board of Directors of TTS recommends that its shareholders accept PALFINGER’s offer.
Edited from press release by Angharad Lock
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/18072016/palfinger-formally-lodges-takeover-bid-for-tts-group-asa-2785/