Thomson Reuters acquires majority interest in Pagero

Thomson Reuters has announced the acquisition of approximately 53.81% of the shares in Pagero Group AB from key shareholders, including Summa Equity, Pagero’s CEO Bengt Nilsson, as well as several members of the management team and employees, making Thomson Reuters the majority shareholder in Pagero. On January 11, 2024 Thomson Reuters announced a recommended public tender offer to acquire 100% of the shares of Pagero, Thomson Reuters increases the price in the Offer to SEK 50 per share and declares the Offer unconditional. The independent bid committee of Pagero’s board of directors unanimously recommends all shareholders of Pagero accept the Revised Offer. The total value of the Revised Offer, based on all outstanding 161,167,486 outstanding shares in Pagero, amounts to approximately SEK 8.1B. The revised Offer represents a premium of 11.1% compared to the public cash offer of SEK 45 from Avalara1 which was announced on 12 January, 2024, and 145.9% compared to the volume-weighted average price of Pagero’s shares on Nasdaq First North during the 30 latest trading days prior to the announcement of Vertex’s offer on 13 December, 2023, and 174.9% compared to the volume-weighted average trading price for Pagero’s shares on Nasdaq First North Growth Market during the 90 latest trading days prior to the announcement of Vertex’s offer on 13 December, 2023. The acceptance period for the Offer expires on 9 February 2024 17:00 CET.