William Demant Invest (WDI), an investment company based in Denmark, announced that it made a voluntary public offer for shares in Össur for technical reasons but that it has no intention of taking over Össur, according to a company press release.
WDI currently holds 179.6 million Össur shares, representing 39.58% of the share capital and voting rights. WDI’s current offer is a precautionary measure to remove uncertainty about whether Icelandic takeover laws would require WDI to make a mandatory offer. The offer fulfills the requirements for mandatory offers and ensures that WDI will have flexibility in deciding its controlling stake in Össur. They do not want to raise its stake in Össur much above its current level and intend to hold an average of 40% to 50% of shares moving forward.
WDI says that they have no intentions of delisting Össur, and their offer will have no affect on Össur’s activities and operations, including employment, working conditions and financial assets.