The investment funds of Arrowgrass Capital Partners LLP hold, directly and indirectly, 24.8% of all shares and votes in Basware Corporation, a Finland-based company providing networked source-to-pay solutions and e-invoicing services.
Arrowgrass announces that it has agreed to an irrevocable undertaking with Tradeshift to accept a tender offer by Tradeshift for Basware, should Tradeshift make such a tender offer, under certain conditions, including, among other, that (i) such tender offer is publicly announced in accordance with applicable laws and regulations no later than 14 January, 2019, (ii) the offer price in such tender offer is no less than EUR 46.50 per share (the “Minimum Offer Price”), (iii) the tender offer is completed no later than three months after the tender offer has been announced, and (iv) no competing offer is made with a consideration more than 30% higher than the Minimum Offer Price.
Arrowgrass recognises that Basware has emphasised in its announcements that the launch of the tender offer remains uncertain. Arrowgrass Capital Partners is an alternative asset manager that was founded in February 2008. Currently, Arrowgrass manages the following four funds: Arrowgrass Master Fund Ltd., Arrowgrass Equity Focus Fund Limited, Arrowgrass Customised Solutions I Limited, and Arrowgrass Inflection Fund Limited.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.