Bredband2 i Skandinavien AB (publ) (OM:BRE2) made an offer to acquire A3 Allmänna IT- och telekomaktiebolaget (publ) (OM:ATRE) for approximately SEK 620 million on September 14, 2020. Under the terms of the transaction, Bredband2 will acquire each A3 share for 8 new shares in Bredband2 plus SEK 6 per share in cash. Post-completion, existing Bredband2 shareholders will control 72.7% of the enlarged company, while A3 shareholders will own the remaining 27.3%.

The transaction is to be financed from Bredband2 i Skandinavien's own resources and loan facility from Skandinaviska Enskilda Banken AB (publ). Bredband2 will hold an extraordinary general meeting on October 16, 2020 to decide on the issue of the shares required to pay for the acquisition. Shareholders, who control 71.7% of the shares in A3, have also undertaken to accept the offer.

An independent bidding committee in A3 has unanimously decided to recommend that the shareholders accept the offer. On October 20, 2020, the Swedish Competition Authority (Konkurrensverket) has approved the transaction. The acceptance period for the offer is expected to be between October 27, 2020 and November 17, 2020.