MiddleGround Capital's Takeover Offer for STEMMER IMAGING AG Enters New Phase

MiddleGround Capital has announced the start of the additional acceptance period for its voluntary public takeover offer to shareholders of STEMMER IMAGING AG. The offer allows shareholders to tender their shares at EUR 48.00 per share in cash, reflecting a 52% premium to STEMMER's share price on July 19, 2024. This period extends from October 5 to October 18, 2024.

The initial acceptance period concluded on September 30, with 9.89% of shares tendered. MiddleGround, through its entity Ventrifossa BidCo AG, already secured approximately 69.36% of shares from STEMMER's majority shareholder, PRIMEPULSE SE. Overall, 82.66% of shares are now in MiddleGround's control.

The management of STEMMER supports the offer, viewing it as beneficial. The deal awaits regulatory approval and aims to eventually take STEMMER private.