Aros Bostad: Announces public offer for Besqab - ABG
All-share bid valued at ~SEK 1.85bn (44% premium)
Aros and Besqab are fairly equal in size (mcap, ongoing units)
Combined company will have a leading position in Stockholm/Uppsala
73% acceptance rate and recommended by the BoD
Aros Bostad this morning announced a public offer for the residential developer peer Besqab. The offer is an all-share bid (~15% preference shares, ~85% ordinary shares) and values Besqab at ~SEK 1.85bn. The bid is accepted by shareholders owning 73% of the shares and is recommended by the Besqab BoD. We expect the bid to be successful. The bid value is broadly in line with the reported equity/book value in Besqab.
Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/aros-bostad/Equity-research/2024/1/aros-bostad---announces-public-offer-for-besqab/