29 August 2006 — Amsterdam (NL): Buhrmann has agreed to make a voluntary cash offer to acquire Nordic OP group, Andvord Tybring-Gjedde ASA (ATG).
The Andvord family, who own a 39.9 percent of ATG’s ordinary shares, and the company’s senior management have pre-accepted the offer for all of their shares and management options.
Buhrmann’s offer is favourable to ATG as both companies pursue comparable strategic agendas which emphasise eCommerce and private label expansion.
The board of directors has declared its support for the transaction, pending employee consultation.
The transaction values ATG at NOK 2.18 billion ($347 million) or NOK 9.4 per share.