China’s Qumei Home Furnishing Group on the 22nd of May made an all-cash bid for Norway’s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million). The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday’s close. “After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said. “We have been impressed by Qumei ...
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