Bang & Olufsen potential bidder Sparkle Roll Group wishes to offer DKK 85 per share
Sparkle Roll Group, the Hong Kong-based luxury goods dealer, wants to acquire Bang & Olufsen, the Danish electronics company, for DKK 85 (EUR 11.4) per share, according to Berlingske Tidende. This is after yesterday's announcement that Sparkle Roll is in talks with B&O with an intent to make an offer.
The Danish daily reported, citing unnamed sources, that Sparkle Roll wishes to pay DKK 85 per share which corresponds to a total price of DKK 3.6bn (EUR 483m). The paper wrote however that this is price will likely be too low for B&O to accept due to its low premium compared to the company's current share price of DKK 70 (EUR 9.4) per share.
The item also noted that the company has mandated Danske Bank to advise.
Neither B&O's chairman Ole Andersen nor managing director Tue Mantoni wished to comment.
Berlingske Tidende