Nordic Business Report-April 12, 2006-Tryggingamidstodin hf announces bid for NEMI Forsikring ASA
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The Icelandic insurance company Tryggingamidstodin hf (TM) announced on Wednesday (12 April) a bid for Norwegian marine insurer NEMI Forsikring ASA.
TM is offering NOK62.50 per share, which represents a premium of 25% compared to the average closing market price for the last 20 trading days, and values NEMI Forsikring at approximately NOK886.8m.
Shareholders representing approximately 68% of the outstanding share capital of NEMI Forsikring have undertaken to accept the offer. The offer is also recommended by NEMI Forsikring's board of directors.
One Norwegian krone (NOK) is worth approximately 0.08 British pounds (GBP).
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