Core Viewpoint - The Board of Directors of Nilfisk recommends shareholders accept the all-cash takeover offer from Freudenberg, citing an attractive offer price and strategic rationale for the transaction [1][2][3]. Offer Details - The offer price is DKK 140 per share, valuing Nilfisk at approximately DKK 3.8 billion, representing a premium of 35.9% over the closing price of DKK 103 on 10 December 2025 [2][7]. - The offer is fully financed and has support from shareholders representing 50.9% of Nilfisk's shares, enhancing the likelihood of completion [2][11]. Strategic Rationale - The Board believes the offer reflects a strong strategic and cultural fit between Nilfisk and Freudenberg, which could reinforce Nilfisk's position as a global leader [3][5]. - A competitive process was conducted to evaluate Nilfisk's strategic options, leading to the conclusion that Freudenberg's offer is the most attractive outcome for shareholders [3][4]. Employee and Operational Considerations - Freudenberg has committed to employee continuity and intends to further develop Nilfisk, which the Board views positively [5][6]. - The Board acknowledges that while Nilfisk can operate successfully as a standalone company, the proposed ownership change may yield strategic benefits [5]. Offer Timeline - The offer period is set to expire on 18 February 2026 at 23:59 CET, unless extended, and shareholders are encouraged to review the offer's terms before making a decision [6][11].

Core Viewpoint - Nilfisk Holding A/S has published a Board Statement regarding the voluntary takeover offer from Freudenberg Home and Cleaning Solutions GmbH to acquire all issued and outstanding shares of Nilfisk, excluding treasury shares and shares held by the Offeror [1][5]. Company Overview - Nilfisk was founded in 1906 and is a leading global provider of professional cleaning equipment and services, with over 90% of sales directed to professional markets [3][4]. - The company operates in more than 100 countries and has six manufacturing sites located in the US, Mexico, Hungary, Italy, and China [4]. - In 2024, Nilfisk generated revenue of 1,027.9 million EUR, with the largest market being the US, accounting for 28% of total revenue, followed by Germany (14%), France (10%), Denmark (7%), and the UK (4%) [4]. Offer Details - The Board Statement has been prepared in both Danish and English, with the Danish version prevailing in case of discrepancies [2]. - The Offer is subject to certain restrictions and is available on Nilfisk's investor website [2].

Company Overview - Nilfisk Holding A/S is a leading global provider of professional cleaning equipment and services, founded in 1906 by Danish engineer P.A. Fisker [4] - The company generates over 90% of its sales from professional markets, with the remainder from consumer products such as floorcare equipment and vacuum cleaners [4] - Nilfisk operates in more than 100 countries and has six manufacturing sites located in the US, Mexico, Hungary, Italy, and China, employing approximately 4,500 people [5] Financial Performance - In 2024, Nilfisk reported revenue of €1,027.9 million, with the largest market being the US, accounting for 28% of total revenue, followed by Germany (14%), France (10%), Denmark (7%), and the UK (4%) [5] Takeover Offer - On December 11, 2025, Nilfisk announced an agreement with Freudenberg Home and Cleaning Solutions GmbH to make an all-cash voluntary recommended public takeover offer at a price of DKK 140 per share [1] - The offer document, including an acceptance form, has been approved by the Danish Financial Supervisory Authority [1][2] - The Board of Directors of Nilfisk will issue a statement regarding the offer, advising shareholders to read both the offer document and the board statement before making a decision [2]

Core Points - The voluntary takeover offer by Innosera ApS for Bavarian Nordic has been withdrawn due to insufficient acceptance rates, with only 60% of shareholders accepting the offer, falling short of the required 66.67% [2][3][4] - Bavarian Nordic will continue as an independent company, maintaining its current growth strategy and inviting shareholders to an information meeting to discuss business status and future plans [4][5] Company Overview - Bavarian Nordic is a global vaccine company focused on improving health through innovative vaccines, including being a preferred supplier of mpox and smallpox vaccines [7]

Core Viewpoint - Innosera ApS has published a third supplement to its offer document, lowering the minimum acceptance condition for its takeover bid of Bavarian Nordic A/S from 75% to 66 2/3% of the voting rights and share capital [2][4]. Offer Details - The offer period has been extended, with the expiry time changed from 5:00 p.m. (CET) to 11:59 p.m. (CET) on November 5, 2025 [3]. - All other terms and conditions of the offer remain unchanged as per the previous supplements [4]. Shareholder Response - Institutional shareholders representing approximately 5.3% of Bavarian Nordic's share capital have committed to accept the improved offer during the extended period [5]. - As of October 21, 2025, the Offeror has received acceptances and binding commitments indicating a preliminary acceptance level of approximately 36.1% [5]. Regulatory Approval - The third supplement has been approved by the Danish Financial Supervisory Authority [6].

Core Viewpoint - Bavarian Nordic's Board of Directors maintains its recommendation for shareholders to accept the takeover offer from Innosera ApS, citing the offer as fair and attractive based on the company's fundamental value and historical share price levels [2][3]. Offer Details - The takeover offer is for all issued and outstanding shares of Bavarian Nordic, excluding treasury shares, made by Innosera ApS, which is controlled by Nordic Capital Fund XI and Permira Beteiligungsberatung GmbH [1]. - The offer period has been extended, and the offer price has been increased, prompting the Board to reiterate its recommendation [2][3]. Company Background - Bavarian Nordic is a global vaccine company focused on improving health through innovative vaccines, including mpox and smallpox vaccines, and has a strong portfolio of travel vaccines [7].

Core Viewpoint - Innosera ApS has increased its cash offer for Bavarian Nordic A/S to DKK 250 per share and extended the offer period until November 5, 2025, allowing shareholders more time to consider the offer [3][4][10]. Offer Details - The initial offer price was raised from DKK 233 to DKK 250 per share, which is stated to be the best and final offer price [3][5]. - The offer period has been extended by three weeks, now set to expire on November 5, 2025, at 5:00 p.m. (CET) [2][10]. Shareholder Response - Institutional shareholders representing approximately 5.3% of Bavarian Nordic's share capital have committed to accept the improved offer during the extended period [4]. - As of the latest update, approximately 25.7% of Bavarian Nordic's share capital has accepted the offer, indicating that the minimum acceptance condition has not yet been met [7]. Regulatory and Approval Status - The Offeror has obtained all necessary regulatory approvals for the completion of the offer, with the expectation that proceeds may be paid to shareholders by early December 2025, subject to conditions being met [6][10]. Important Dates - The updated timetable includes key dates such as the announcement of the preliminary result on November 6, 2025, and the expected settlement date for the offer price on December 3, 2025 [10][11].

Core Viewpoint - Innosera ApS, controlled by Nordic Capital Fund XI and Permira, has made a public takeover offer for Bavarian Nordic A/S, with the offer period expiring on 14 October 2025 at 11:59 p.m. (CEST) [1][2]. Group 1: Offer Details - The takeover offer is an all-cash voluntary board-recommended public offer to acquire all issued and outstanding shares of Bavarian Nordic, excluding treasury shares [1]. - The Offeror has received all necessary regulatory approvals, but the completion of the offer is contingent upon meeting a minimum acceptance condition of 75% of shares [2]. - Shareholders must submit their acceptance through their custodian bank or account holding institution before the offer period expires [3]. Group 2: Shareholder Guidance - Shareholders are encouraged to read the Offer Document and the Board Statement in full before deciding whether to accept the offer [4]. - Acceptance can be made online via the custodian bank's web banking solution or by using the acceptance form provided in the Offer Document [3]. Group 3: Company Background - Bavarian Nordic is a global vaccine company focused on improving health through innovative vaccines, including mpox and smallpox vaccines [6].

Core Viewpoint - Innosera ApS, controlled by Nordic Capital Fund XI and Permira, has extended its all-cash voluntary takeover offer for Bavarian Nordic A/S by two weeks to obtain the last outstanding regulatory approval necessary for the acquisition [1][2]. Group 1: Offer Details - The initial offer period, which began on August 26, 2025, was set to expire on September 30, 2025, but has now been extended to October 14, 2025, at 11:59 p.m. (CEST) [3][6]. - The Offeror has received regulatory approvals in several jurisdictions, including Australia, China, Saudi Arabia, Switzerland, and the United States, with the only remaining approval being from the European Union [2][5]. Group 2: Board Recommendations - Bavarian Nordic's Board of Directors has recommended that shareholders accept the Offer, and this recommendation remains unchanged despite the extension of the offer period [4][5]. Group 3: Timetable and Important Dates - The updated timetable includes the announcement of the preliminary result of the Offer on October 15, 2025, and the final result by October 20, 2025, with settlement of the offer price expected by November 11, 2025 [6][7].

Core Viewpoint - Bavarian Nordic A/S is undergoing a voluntary public takeover offer from Innosera ApS, backed by Nordic Capital Fund XI and Permira, with the Board of Directors recommending shareholders accept the offer as it presents immediate and attractive value [1][2]. Company Overview - Bavarian Nordic has evolved into a leading vaccine company since 2018, receiving multiple unsolicited inquiries for potential takeover bids [2]. - The company specializes in innovative vaccines, including mpox and smallpox vaccines, and has a strong portfolio of travel vaccines [4]. Offer Details - The Board of Directors has conducted a thorough analysis of the takeover offer, considering the company's financials, performance, and future prospects [2]. - The offer is positioned as an opportunity for shareholders to realize immediate value, which the Board finds attractive [2]. - The Board Statement regarding the offer is available in both Danish and English, with the Danish version prevailing in case of discrepancies [2][3]. Communication and Availability - Offer-related documents, including the Board Statement, are accessible on Bavarian Nordic's website, with notifications sent to registered shareholders [3].