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Tethys Oil: All share offer at SEK 58.7/sh - ABG

Roc Oil Company bids SEK 58.7/sh for Tethys Oil
Offer in-line with ABGSC valuation, independent committee recommends the offer
Bid seems likely to be accepted


Roc Oil Company bids SEK 58.7/sh for Tethys Oil

Today, 13 September 2024, Roc Oil Company Pty Limited, announced a public cash offer to the shareholders of Tethys Oil AB to tender all their shares in Tethys to the offeror at a price of SEK 58.70/sh in cash, valuing the company at SEK 1.894b. The offered price of SEK 58.7/sh is 89% above yesterday's closing price of SEK 31/sh, and 77% above the last 90 days average price of SEK 33/sh. Lansdowne Partners Austria GmbH, Magnus Nordin (CEO of Tethys), and Göran Källebo, holding 16.86% of Tethys' shares, have committed to accepting the bid, subject to conditions. The acceptance period for the offer is expected to commence on or around 28 October 2024 and expire on or around 2 December 2024.
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