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View Full Version : SAS offers NOK 27 (i.s.o. NOK 35) per stock to aquire Braathens


Nick Figaretto
27th Nov 2001, 16:07
From stocklink.no (http://www.stocklink.no/bin/Server?x-service=showMessage&messageid=9657265):

Information from Information regarding SAS acquisition of Braathens

SAS entered into an agreement with Braathens` principal
shareholders, Braganza, Bramora and KLM, on May 21, 2001 to
acquire their shares in Braathens and to launch a tender
offer for the shares held by the minority shareholders. In
order to inform the market about the offer price and the
timing of the tender offer, SAS wishes to relay the
following:

The negotiations between the principal shareholders of
Braathens and SAS and between Braathens and the lessors
from whom Braathens leases aircraft, have been completed.
The launch of a tender offer will take place on Wednesday
November 28, 2001 and the offer period will include
Friday December 14, 2001. Based on an overall review of the
various closing conditions set out in the original
agreement, the general development in the industry and the
changes and reductions in capacity made by Braathens, the
principal shareholders have agreed on a reduction in the
purchase price as compared with the purchase price
previously communicated. Further, a number of closing
conditions have been waived by SAS. The offer price per
share will be NOK 27. The offer has been recommended by the
board of Braathens.

Braathens and the lessors have renegotiated selected terms
of their lease agreements implying the return of some
leased aircraft and changes in conditions such as lease
rates and duration connected to others. The renegotiated
terms will only become effective if SAS completes its
acquisition of Braathens.
stocklink.no (http://www.stocklink.no/bin/Server?x-service=showMessage&messageid=9657265)