Directors urge approval of OX2 takeover
- Admin
- May 13, 2024
- 1 min read
The independent bid committee of the board of directors of OX2 has recommended shareholders accept the public offer from EQT Infrastructure VI that values the Nordic developer at $1.5bn. OX2’s share price soared in response to the announcement. Peas Industries, OX2’s founder and largest shareholder, has agreed to accept the offer. Otello BidCo plans to transition OX2 to a more long-term, sustainable business model and offers a management incentive plan to key employees like chief executive Paul Stormoen. EQT’s experience in the renewable energy sector makes it a suitable owner to support OX2's transition.
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