Ekorness
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Chinese Qumei made $630m cash bid for Norwegian furniture maker Ekornes
China’s Qumei Home Furnishing Group on the 22nd of May made an all-cash bid for Norway’s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million). The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday’s close. “After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said. “We have been impressed by Qumei’s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership,” it added. Shareholders owning 25.7 percent of Ekornes have given pre-acceptance, Ekornes said. Best known for its “Stressless” furniture brand, Ekornes’ revenues fell by 2... Continue reading
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May 25, 2018
Chinese Qumei made $630m cash bid for Norwegian furniture maker Ekornes
China’s Qumei Home Furnishing Group on the 22nd of May made an all-cash bid for Norway’s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million). The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday’s close. “After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said. “We have been impressed by Qumei’s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership,” it added. Shareholders owning 25.7 percent of Ekornes have given pre-acceptance, Ekornes said. Best known for its “Stressless” furniture brand, Ekornes’ revenues fell by 2... Continue reading
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Chinese Qumei made $630m cash bid for Norwegian furniture maker Ekornes
China’s Qumei Home Furnishing Group on the 22nd of May made an all-cash bid for Norway’s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million). The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday’s close. “After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said. “We have been impressed by Qumei’s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership,” it added. Shareholders owning 25.7 percent of Ekornes have given pre-acceptance, Ekornes said. Best known for its “Stressless” furniture brand, Ekornes’ revenues fell by 2... Continue reading
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Chinese Qumei made $630m cash bid for Norwegian furniture maker Ekornes
China’s Qumei Home Furnishing Group on the 22nd of May made an all-cash bid for Norway’s Ekornes, valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million). The board of Ekornes unanimously recommended the bid of 139 Norwegian crowns per share, a premium of 18 percent above Wednesday’s close. “After the first approach from Qumei more than a year ago, the board and management have spent significant time and efforts to assess this strategic opportunity,” Ekornes said. “We have been impressed by Qumei’s ability to develop successful products and marketing concepts and we see great potential for Ekornes to continue its success under this new ownership,” it added. Shareholders owning 25.7 percent of Ekornes have given pre-acceptance, Ekornes said. Best known for its “Stressless” furniture brand, Ekornes’ revenues fell by 2... Continue reading