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Analyst Comment

Innofactor: As expected, tender offer not yet materialized, but likely in due course

By Joni GrönqvistAnalyst
Innofactor

Translation: Original published in Finnish on 10/7/2024 at 8:25 am EEST.

Innofactor reported on Friday that the Onni Bidco consortium has initially acquired an additional 2.55% of the shares in Innofactor during the second offer period. Onni Bidco will announce the final result of the offer period on October 8, 2024. As a result, the company now holds 84.6% of the shares and voting rights in Innofactor after the tender offer periods. This is below the bid condition, which is over 90%. 

As we thought possible before the start of the second offer period at the end of September, the consortium did not gain the additional stake it was seeking (around 10 percentage points) during the relatively short extension period. However, we still expect that the takeover will ultimately be completed and that Onni Bidco will acquire more than 90% of the shares and votes. In our view, the offer is still a good one for shareholders from a number of perspectives and we believe there is a strong likelihood that the offer will be successful. Our comments on the offer at the end of September, an update on the company's operational situation and the still valid rationale for the recommendation can be found here.

Forum discussions

The interest also arrived. In Nordnet, the interest was paid a day later than the undisputed portion of 1.68 EUR/share.
5/16/2025, 2:59 PM
by Tmpr2000
1
Innofactor’s undisputed share of €1.68 arrived in the account yesterday. The entire process is not yet over; the trusted man demands disclosure...
5/15/2025, 6:11 AM
by Critter
7
Risto Linturi’s Facebook post:(Bolding mine) "A long stint has concluded. Thanks to Sami Ensio for excellent cooperation, which will continue...
5/14/2025, 3:20 AM
by @TeemuHinkula
13
Inderes Innofactor Oyj:n tilinpäätöstiedote 2024 (IFRS) - Inderes Innofactor Oyj:n tilinpäätöstiedote 28.2.2025 klo 9.00 Konsernin tunnusluvut...
2/28/2025, 8:00 AM
by Ummon
4
Was it clear when the redemption matter will be finalized? I also received a letter, but after a quick read-through, I don’t remember.
1/20/2025, 12:54 PM
by salottisipuli
0
In arbitration, the rest will receive at least €1.68 per share, but the arbitral tribunal may order an even higher price, such as €1.86.
1/14/2025, 12:42 PM
by Critter
1
That’s how it is: the shares were sold at the offer price, and the increased offer coming in depended on the price doubling, as Ensio had drawn...
1/14/2025, 12:16 PM
by viljo
1
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