Aneo launches Arise takeover bid

Aneo, through Aneo BidCo, has announced a recommended cash offer for all outstanding shares in Arise.
The company said the offer values Arise at approximately SEK1.8 billion (€163.6 million) based on the number of outstanding shares.
Arise is listed on Nasdaq Stockholm, Mid Cap.
Gunnar Hovland, chief executive of Aneo, said: “Aneo and Arise are both driving forces in the Nordic energy transition.”
He said: “By combining these forces, we create a leading Nordic player in renewable energy.”
He added: “Together, we gain scale, geographic breadth and the expertise to compete with the largest players in the Nordic energy market.”
Aneo BidCo said completion of the offer is conditional on acceptance from shareholders representing more than 90% of outstanding shares and on obtaining regulatory approvals.