Sign On i Stockholm AB cancels acquisition and spin-off.
NORDIC BUSINESS REPORT-10 August 2004-Sign On i Stockholm AB cancels acquisition and spin-off(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
The Swedish IT company Sign On i Stockholm AB said on Tuesday (10 August) that its planned acquisition of Svea Ekonomi AB and the spin-off of Sign On's existing activities into a new company had been cancelled.
The planned transaction, initially announced in June, was cancelled after Svea Ekonomi's main shareholder Lennart Agren allegedly changed the terms of the original agreement.
Sign On said that in its view Agren's actions in the matter had damaged both the company and its shareholders, and that it would consequently seek full compensation.
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|Title Annotation:||planned acquisition of Svea Ekonomi AB|
|Publication:||Nordic Business Report|
|Article Type:||Brief Article|
|Date:||Aug 10, 2004|
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