European Retailer Valued At $12.5B In Takeover Bid
By Benjamin Horney (November 10, 2021, 1:57 PM EST) -- The largest shareholder in European food and health products retailer ICA Gruppen is teaming with a Swedish insurer to try to buy the company in its entirety at a valuation of about 107.4 billion crowns ($12.5 billion), the companies said Wednesday.
The offer for ICA Gruppen AB comes from an entity backed by shareholder ICA-handlarnas Forbund and insurer AMF Pensionsforsakring AB called Murgrona Holding AB, according to a statement. ICA-handlarnas already owns a roughly 54% stake in ICA Gruppen. The proposal calls for Murgrona to acquire ICA Gruppen for 534 crowns per share, and the more than 92.5 million ICA Gruppen...
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