Norwegian information-technology company Evry ASA said Monday it
has received a recommended 4.27 billion kroner ($597.5 million)
takeover offer from Lyngen Bidco AS, a company indirectly owned by
private-equity funds advised by Apax Partners LLP.
Evry has been carrying out a strategic review over the past few
months to evaluate how best to move forward, and it said at the
time that options could include a sale of the company.
Lyngen Bidco's 16-kroner-a-share offer represents a premium of
31% to the share price when Evry initially announced its strategic
review.
Evry's two largest shareholders have undertaken to accept the
offer. Posten Norge AS and Telenor Business Partner Invest AS
together own 70.24% of Evry shares.
"I am confident that private ownership will benefit our next
phase of profitable growth, and we are looking forward to
accelerate and expand our strategy together with Apax," said Evry
Chief Executive Terje Mjos.
Shares closed Friday at 17.20 kroner.
Write to Dominic Chopping at dominic.chopping@wsj.com