Aegir Norge Holding, a wholly owned subsidiary of Emerson, has reached an agreement to launch a voluntary offer for 100% of Roxar's shares.
Offshore staff
STAVANGER, Norway -- Aegir Norge Holding, a wholly owned subsidiary of Emerson, has reached an agreement to launch a voluntary offer for 100% of Roxar's shares. Emerson will offer $0.735 per share in cash, which represents approximately $179 million, for the total share capital of Roxar. Upon successful completion of the acquisition, Emerson expects to redeem approximately $212 million of Roxar debt.
Roxar's board has unanimously resolved to recommend the offer.
"The Roxar board has looked at all strategic alternatives for the company and has taken considerable time for this process," says Hans Olav Torsen, Roxar chairman. "The board considers Emerson as an attractive partner to Roxar, with a similar technology and customer-focused business culture and complementing market segments."
