Spir Group takeover offer commences at NOK 8.567 per share

Bidco Clover AS has launched its recommended voluntary cash offer to acquire all outstanding shares in Spir Group ASA not already controlled by the bidder. The Norwegian Financial Supervisory Authority approved the offer document on December 18, 2025, allowing the offer period to commence today, December 19, 2025, at 09:00 CET. The offer is priced at NOK 8.567 per share.

The offer price represents a premium of 37.73% to Spir Group's closing price on November 26, 2025, and a 30.46% premium over the one-month volume-weighted average price ending on the same date. The offer period is set to expire on January 16, 2026, at 16:30 CET, though extensions are at the bidder's discretion, up to a maximum of February 27, 2026.

Pre-commitments to accept the offer have been secured from shareholders, including board members and executive management, collectively holding approximately 4.27% of the shares. The bidder, wholly owned by a consortium of Spir Group's four largest shareholders, currently controls about 66.55% of the shares prior to the offer's completion.