Latour Industries withdraws the public offer to the shareholders of Allgon AB (publ)
This announcement is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden should refer to the offer restrictions included in the offer document published in connection with the announcement of the Offer. Shareholders in the United States should also refer to the section titled "Offer restrictions - United States of America" included in the offer document.
On 14 December 2020, Latour Industries AB(1) ("Latour Industries") announced a public offer to the shareholders of Allgon AB (publ) ("Allgon") at a price of SEK 10.75 in cash per share (the "Offer"). On 22 December 2020, Bure Equity AB (publ) announced a public offer to the shareholders of Allgon at a price of SEK 13.50 in cash per share (the "Competing Offer"). Based on accessible information and Investmentaktiebolaget Latour's (publ) long-term return on capital objectives, Latour Industries cannot motivate a higher offer to the shareholders of Allgon than the Competing Offer. The completion of the Offer is, among other things, conditional upon that no other party announcing an offer to acquire shares in Allgon on terms that are more favorable to the shareholders of Allgon than the Offer. As a result of the Competing Offer, the abovementioned condition cannot be satisfied and the non-satisfaction of such condition is of material importance to Latour Industries' acquisition of Allgon. Thus, Latour Industries has decided to withdraw the Offer.
For enquiries, please contact:
Björn Lenander, CEO, Latour Industries
Fredrik Lycke, Investment Director, Latour
Tel: +46 (0)31-38 12 899
The information in this press release was submitted for publication by Latour Industries and the contact person above in accordance with the takeover rules for certain trading platforms. The information was submitted for publication on 4 January 2021 at 08.30 a.m. (CET).
(1) A Swedish private limited liability company, with corporate registration number 556018-9754, domiciled in Gothenburg.