Assa Abloy : Files Tender Offer for Remaining Agta Record Shares

By Adria Calatayud

Sweden's Assa Abloy AB said Monday that it has filed a public tender offer for the remaining shares in Agta Record AG following completion of its indirect acquisition of a 54% stake in the Swiss company last week.

The lock maker, which now owns 93% of Agta Record, said the tender offer is at 70.58 euros ($83.25) a share.

Agta Record's board has determined that the offer price is fair for its minority shareholders, Assa Abloy said. Agta Record's board has also unanimously recommended the offer and has approved an application to Euronext Paris for the delisting of its shares after the closing of the offer, Assa Abloy said.

The offer is expected to open on Sept. 17, Assa Abloy said.

Write to Adria Calatayud at [e-mail]