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Today in Norway: A roundup of the latest news on Friday
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Norwegian real estate firm Entra said on Friday it had agreed to buy rival Oslo Areal for 13.55 billion Norwegian crowns ($1.48 billion), in the latest twist of consolidation in the Nordic real estate sector.
SBB, Castellum launched rival offers Balder holds 20% Entra stake, may block takeover (Adds share price, quotes)
OSLO, Jan 29 (Reuters) - Norwegian real estate firm Entra , subject to a three-way battle for control, on Friday urged its shareholders to reject a set of competing bids for the company, arguing it should remain independent.
Swedish rivals SBB and Castellum are both attempting a takeover, valuing Entra at up to 34.6 billion crowns ($4.0 billion), while a third company, Balder, has amassed a large stake and may block the others.
“The board recommends the Entra shareholders with a long term view on their investment to not accept any of the offers,” said Chairwoman Siri Hatlen, adding that the recommendation was unanimous.
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OSLO Norwegian real estate firm Entra , subject to a three-way battle for control, on Friday urged its shareholders to reject a set of competing bids for the company, arguing it should remain independent.
Swedish rivals SBB and Castellum are both attempting a takeover, valuing Entra at up to 34.6 billion crowns ($4.0 billion), while a third company, Balder, has amassed a large stake and may block the others.
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“The board recommends the Entra shareholders with a long term view on their investment to not accept any of the offers,” said Chairwoman Siri Hatlen, adding that the recommendation was unanimous.
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