KKR & Co (NYSE:KKR) plans to launch a voluntary public takeover offer to all shareholders of Encavis AG (OTC:ENCVF) for an equity value of around €2.8 billion.
Elbe Bidco, an investment vehicle owned by KKR, plans to offer a cash consideration of €17.50 per Encavis share.
This represents an attractive premium of 54% to the undisturbed closing share price and 33% to the undisturbed three-month volume-weighted average share price as of March 5, 2024.
Abacon Capital and other existing shareholders have signed binding agreements to sell around 31%, partly roll over Encavis shares to Bidco, and fully support the offer.
Also, family company Viessmann ...