2nd Jul 2019 15:53
(Alliance News) - Tender-management software firm EU Supply PLC said on Tuesday its shareholders have approved the firm's GBP16 million takeover by Mercell Holding AS.
EU Supply initially recommended the takeover by the Norwegian software and finance company to shareholders in May after Mercell agreed to pay 18.25 pence per share in cash for EU Supply.
At that time, Thomas Beergrehn, chief executive officer of EU Supply, said the firm acknowledged the difficulties of being a smaller company and being acquired by Mercell could "accelerate growth".
Shares in EU Supply were untraded at 18.05p on Tuesday in London.