Etteplan Oyj (HLSE:ETTE) made a bid offer to acquire Semcon AB (publ) (OM:SEMC) for SEK 2.7 billion on August 23, 2022. Under the terms, Etteplan offers a cash consideration of SEK 149 per share in Semcon. The acceptance period for the Offer is expected to commence around September 1, 2022 and end around October 6, 2022.

Etteplan reserves the right to extend the acceptance period for the Offer and to postpone the settlement date. The completion of the Offer is conditional upon, among other things, the Offer being accepted to such extent that Etteplan becomes the owner of shares representing more than 90% of the outstanding shares in Semcon on a fully diluted basis and receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions, including from competition authorities. Board of Directors of Semcon unanimously recommends the shareholders of Semcon to accept the Offer.

Danske Bank A/S, Danmark, Sverige Filial acted as financial advisor, Advokatfirman Vinge KB acted as legal advisor and PricewaterhouseCoopers AB acted as fairness opinion to Semcon.