October 18, 2013 - Assignment

Hexagon makes public offer for Veripos

Measurement technology group Hexagon has made a public voluntary offer of NOK 28 per share for Oslo-listed positioning solutions maker Veripos. The offer implies an enterprise value for the Norwegian firm of NOK 910 million and requires acceptance from shareholders representing a minimum of 90 per cent of the Veripos share capital and voting rights, and certain other customary conditions for public voluntary offers.

Veripos is a maker of positioning system hardware for offshore oil companies. Hexagon is a leading global provider of integrated design, measurement and visualisation technologies. Hexagon has close to 14 000 employees in more than 40 countries and net sales of about EUR 2.4 billion. The company’s B share is listed on NASDAQ OMX Stockholm.

Hexagon is being advised by Mannheimer Swartling on Swedish law in the matter, with Johnny Andersson acting as lead counsel. Advokatfirmaet Haavind is advising on Norwegian law.