STOCKHOLM (Reuters) – Swedish venture capital group Triton said on Tuesday it had made a rival offer for Finnish construction systems provider Caverion that valued the takeover target at around 1.09 billion euros ($1.17 billion).
Triton’s offer of 8 euros per share exceeded a bid of 7 euros announced in November by North Holdings, a Bain Capital-led consortium that had valued Caverion at 955 million euros.
Triton said in a statement on Tuesday it was seeking the support of Caverion’s board for its takeover and hoped to complete the deal in the third or fourth quarter.
Caverion’s shares rose 17.2% at 0834 GMT to 8.12 euros.
($1 = 0.9314 euros)
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
