Australia s Asaleo Care to be bought by Swedish tissue maker Essity msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
(Adds offer premium, chairman statement)
Feb 17 (Reuters) - Asaleo Care Ltd on Wednesday agreed to be bought by its largest shareholder Essity in a deal that valued the hygiene and personal products maker at about A$788 million ($611.33 million).
Asaleo Care shareholders would receive A$1.45 per share under the offer, the company said, representing a premium of 6.2% to its last closing price. Tissue maker Essity holds a 36.2% stake in Asaleo through a subsidiary.
Essity’s offer price included a dividend of A$0.03 per share and a special payout of A$0.02 per share that Asaleo declared along with full-year results on Wednesday.