Old Mutual launches bid for Skandia Group.Old Mutual plc has made it official, going public with a bid to acquire Sweden's Skandia Group. The London-based financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group with South African roots said it would offer 3.3 billion [pounds sterling] (about $5.9 billion) for Skandia, or the equivalent of 43.6 Swedish kronor (about $5.67) per share. The offer is a 25% markup (text) markup - In computerised document preparation, a method of adding information to the text indicating the logical components of a document, or instructions for layout of the text on the page or other information which can be interpreted by some automatic system. on Skandia's share price on May 12, 2005, the day before that on which Old Mutual announced it was in discussions with Skandia about a possible acquisition. The offer will be in the form of 16.5 kronor in cash and 1. 372 Old Mutual shares for each Skandia share. If the acquisition is finalized See finalization. , Skandia shareholders would represent 26% of the combined companies, Old Mutual said. |
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