Stork offer goes unconditional

Candover, a London-listed private equity firm, has announced that its €1.5bn (US$2.2bn) offer for Dutch industrial conglomerate Stork has gone unconditional.

Candover teamed up with Icelandic investors and Stork shareholders Landsbanki and Eyrir, hostile to an earlier rejected Candover bid, in November to push through its €48.4 per share offer.

At the end of the acceptance period on Monday 14 January, Candover’s London Acquisitions vehicle held shares representing approximately 98% of the issued and outstanding share capital of Stork. Remaining shareholders have until 1 February to tender their shares.