Visma announces all-cash voluntary recommended public takeover offer for Penneo
The exchange offer will be made subject to certain customary conditions, including a minimum acceptance level of 90% of the outstanding shares and votes in Penneo (excluding treasury shares).
The terms and conditions of the exchange offer will be set out in an offer document, which will be published by Visma following approval by the Danish Financial Supervisory Authority.
Penneo's board of directors has unanimously resolved to recommend that Penneo's shareholders accept the takeover offer.
Visma Group is a leading provider of mission-critical cloud software, with revenue of € 2.4 billion in 2023, nearly 16,000 employees and 1.9 million customers across Europe and Latin America.
Plesner is proud to act as legal advisors to Penneo in connection with the takeover offer, alongside Danske Bank A/S as the financial advisor.
Plesner's team consisted of Henrik Laursen, Janus Jepsen, Emma Louise Teisen, Sebastian Holck and Marcus Nimmo Allerup Bogh.