Aker Propose to Merge with Aker BioMarine
The Aker BioMarine board will evaluate the proposal. The chairman of the board, Kjell Inge Røkke, has conflicted interests in this matter and will as such not participate in the board discussions.
12 Sep 2012 --- On September 11, 2012 Aker BioMarine ASA (AKBM) board of directors received a proposal from Aker ASA for a merger between AKBM and a wholly owned subsidiary of Aker ASA.
The minority shareholders of AKBM will be offered consideration in the form of shares in Aker ASA. Aker has proposed that the conversion ratio in the merger is based on a Aker BioMarine share price of NOK 1,20 which represent a premium of 17 percent to close on September 11, 2012. Based on the proposed conversion rate, Aker BioMarine shareholders will receive 0.006486 Aker ASA shares for each Aker BioMarine share they own.
The Aker BioMarine board will evaluate the proposal. The chairman of the board, Kjell Inge Røkke, has conflicted interests in this matter and will as such not participate in the board discussions. The board of directors will summon an extraordinary general meeting to elect an independent deputy board member.
