Approvals from EGM and competition authorities to Arctic bid
2012-12-04 The extraordinary general meeting of Arctic Paper has on 3 December 2012 adopted the resolutions necessary for the delivery of Arctic Paper shares in connection with the Offer. Furthermore, Arctic Paper hereby announces that Arctic Paper has obtained all necessary approvals from competition authorities for the completion of the acquisition of Rottneros. But main owners of Rottneros will not accept the bid.
The Board of Directors of Rottneros has been informed by shareholders, including Skagen Vekst and Peter Gyllenhammar via companies, who taken together control more than 10 per cent of the capital and voting power in Rottneros, that these owners will not accept the bid announced by Arctic Paper. Arctic Paper is now considering the option to proceed with a lower than 90 percent acceptance level.