Redeye briefly comments on Altor's decision to complete its offer for Sleep Cycle, despite not reaching the 90% acceptance level that was one of the offer's conditions. Altor had reserved the right to waive one or more conditions, including completing the offer at a lower acceptance level, which is now happening. During the extended acceptance period, Altor's control increased from 78.0% to 78.2% of the shares and votes in Sleep Cycle. The acceptance period is extended again, to 17 July, and Altor does not intend to raise the offer, which stands at SEK 24.50 in cash per share. As stated before, we agree with the independent board's previous assessment and that the offer undervalues Sleep Cycle relative to our SEK 35 base case.
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