Kahoot said in an announcement to the stock exchange on Monday that the offer for all outstanding shares in the company had received regulatory approval from the Competition Authority of Turkey.
Previously, the bid price was NOK 35.00 per Kangaroo BidCo share received approval from the competition authorities in both Germany and Austria.
Following Turkish approval, the offering remains subject to regulatory approval being met or waived in the US and China before completion.
Kangaroo says in the stock exchange announcement that it expects to meet the regulatory approval requirement during the week of October 9, 2023.
Hoodman Andersen accepted
This summer, an investor group led by Goldman Sachs made a NOK 17.2 billion bid for Kahoot, which equates to NOK 35 per share. stock. The plan is to take the company off the stock exchange.
The offering was made by Kangaroo BidCo, a Norwegian company newly formed by Goldman Sachs, and the investor group includes Goldman Sachs General Atlantic fund, Lego owner Kirkbi and Eilert Hanoa company Glitrafjord.
The Board of Directors, excluding members with no conflict of interest, unanimously recommended the offer, and Jan Hodman-Andersen and Datum AS accepted early acceptance. Creandum has the same thing. In total, this represents 3.96 percent of Kahoot’s shares.
Kangaroo has extended the promotion period several times, and the tentative deadline is set at 16.30 on 22 September.
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