Bergs Timber AB signed a letter of intent to acquire all of Jarl Timber’s shares, a subsidiary of Norvik Industries. The transaction will be made on a debt free basis and the payment will be made in newly issued shares of Bergs Timber (SEK 2.30/share). The issue price is a premium to Monday's closing price of 16.2% and Norvik expects to have a 29% stake in Bergs Timber AB after the completion of the transaction. Yet, the final purchase price is determined based on the working capital of the company, which ...
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