Thomson Reuters Increases Offer Price For Pagero; Becomes Majority Shareholder

(RTTNews) - Thomson Reuters Corporation (TRI, TRI.TO) announced the acquisition of approximately 53.81 percent of the shares in Pagero Group AB from key shareholders, making Thomson Reuters the majority shareholder in Pagero. On January 11, Thomson Reuters announced a recommended public tender offer to acquire 100 percent of the shares of Pagero.

On Monday, Thomson Reuters increased the price to 50 Swedish kronor per share and declared the offer unconditional. The total value of the revised offer amounts to approximately 8.1 billion Swedish kronor. The acceptance period for the offer expires on 9 February 2024. The independent bid committee of Pagero's board recommended all shareholders accept the revised offer.

"Since the announcement of our initial offer for Pagero on 11 January, following constructive discussions with Bengt Nilsson, Summa Equity and other key shareholders of Pagero, we are pleased to have reached an agreement for them to sell their shares to Thomson Reuters," Said Steve Hasker, CEO and President, Thomson Reuters.