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Article: Saab makes cash offer for Celsius.
- Article from:
- Interavia Business & Technology
- Article date:
- December 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 Aerospace Media Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Saab AB is making a cash offer to holders of Celsius A or B shares of SEK179 ($21). The offer, which has a total value of close to SEK5 billion ($588 million), represents a premium of approximately 40% over the average previous 30day closing price of Celsius B shares. Celsius A shares are all owned by the Swedish Government and are not quoted on the stock market.
The offer, if accepted, will make the merged company the leading Nordic defence entity, with combined sales of some SEK 22.5 billion. Earnings before interest and tax (EBIT) in the first nine months of 1999 were SEK 725 million for Saab and SEK 103 million for Celsius. Combined assets will total SEK 38 ...