The board of Hexicon has chosen to reject a bid on the company from an unnamed European actor. The bid, which was conditional of the board's recommendation, was set at SEK 1.5 per share, corresponding to a value of SEK 545 million for the entire company.
The board considers that the level of the bid, in combination with other specific conditions regarding upcoming milestones, does not match the value of the company's project portfolio according to conducted external valuations. In addition to the Hexicon equity research produced by market actors, the company has also commissioned external valuation institutes such as PwC and SNOW B.V to assess the company's project portfolio. The results of these valuations have shown significant values that, according to Hexicon's board, are not fully reflected in the bid received by the board and thus have been rejected.
