Hedgerahasto Sand Grove Capital Management holding of paint manufacturer Tikkurilahas risen to 5.06%.
On Tuesday, Tikkurila announced that it had received a notification pursuant to Chapter 9, Section 10 of the Securities Markets Act from Sand Grove Capital Management LLP in the United Kingdom.
According to the release, the holdings of funds and accounts managed by Sand Grove Capital Management in Tikkurila’s shares have exceeded the 5% limit and are now 5.06%.
The fund acquired the holding yesterday, Monday, after buying 2,230,000 Tikkurila shares.
The fund has therefore not previously been the owner of Tikkurila.
Interest in Tikkurila has thus arisen with the company’s competitive singing.
Tikkurila was first offered by the industry PPG in December, followed by its own non-binding offer in January AkzoNobel.
Tikkurila’s share price has risen sharply from the autumn’s EUR 14 levels as a result of significant overpriced offers. On Tuesday, the share rose by one per cent to around 33 euros.
AkzoNobel’s non-binding offer was EUR 31.25 per share, while PPG’s current offer is worth EUR 27.75.
At the current exchange rate, the price of Sand Grove’s Tikkurila purchase on Monday would have totaled EUR 73.6 million.
Source: Arvopaperi by www.arvopaperi.fi.
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