News

Hannes Snellman advises Orc Software AB in its Swedish public offer for Neonet AB

25 March 2010

The two NASDAQ OMX Stockholm listed global providers of technology and services for financial trading, Orc Software AB and Neonet AB have on 25 January 2010 announced their intention to merge. The merger will be carried through by Orc Software AB making a public offer worth SEK 1,277 million to the shareholders of Neonet AB. Orc is offering 0.125 new Orc shares for each share in Neonet. The offer is conditional, among others, upon the requisite decisions by the EGM in Orc to enable the issue of new shares as consideration in the offer. The board of directors of Neonet stands behind the offer and unanimously recommends that it be accepted by the shareholders. Shareholders in Neonet representing 50% of all shares in the company have pledged to accept the offer.

Hannes Snellman acts as legal advisor to Orc Software AB and the team includes Partners Sören Lindström, Klaus Ilmonen, Jan Jensen, Kaisa Fahllund and Joakim Lavér and associates Jon Cohen, Ludvig Blomqvist, Heléne Johansson, Anders Lindskog, Linda Magnusson, Anna Persson, Louise Rodebjer and Kennedi Samuels.