Buyout of Sweden’s Karnov Heats Up After Shareholders Block Move
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Owners representing at least 12% of the stock in Karnov Group AB have publicly rejected a takeover approach for the Swedish legal and accounting company, saying an offer of 84 kronor ($7.86) per share is too low.
UK-based Blackmoor Investment Partners Ltd, owning about 1% of the shares in Karnov, told Bloomberg that the valuation offer of 9 billion kronor is far from reflecting the firm’s true potential.