STOCKHOLM - Private equity firm Ratos said on Monday it had made a recommended cash offer for Semcon that values the Swedish tech consultancy at 2.84 billion crowns ($249.1 million).
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Sweden's Ratos said in a statement the offer was for 157 crowns per Semcon share, trumping a bid of 149 crowns made by Finland's Etteplan last month.
Etteplan's bid, which Semcon's board at the time recommended, represented a 31.6% premium to the shares' closing price the day before.
Ratos' bid represents a premium to Semcon's closing price on Friday of 6%. Stakeholders with a total of 52% of shares in Semcon have undertaken to, subject to certain conditions, accept the rival offer, Ratos said.
Ratos said the acquisition would be a step in its strategy towards becoming a more homogeneous group.
"The consulting industry is particularly attractive given the know-how and experience from the industry that Ratos employees have in general and the company management in particular," it said.
Lazard is financial advisor and Kanter legal advisor to Ratos for the offer.
($1 = 11.4011 Swedish crowns)
