Bergs Timber receives public takeover offer from Norvik

Norvik hf, through its subsidiary Kivron AB, has publicly announced a takeover offer for Bergs Timber AB at SEK 44.50 (EUR 3.78) per share, totaling approximately SEK 1.54 billion (EUR 130.9 million), Bergs Timber announced. The offer represents a significant premium of 86.2% over the closing price of SEK 23.90 (EUR 2.03) on Nasdaq Stockholm on 26 October 2023. The day before, Bergs Timber reported that third-quarter EBITDA fell 37% due to weak construction industry. Norvik, already the largest shareholder with 58.67% of shares, has set conditions, including obtaining ...