STEMMER IMAGING Receives Takeover Bid

The management board of STEMMER IMAGING has concluded an investment agreement with MiddleGround Capital. MiddleGround Capital plans to submit an offer to acquire all outstanding shares of the company at a price of €48 (~$52) per share, implying an equity value of €312 million. Following the acquisition’s completion, expected in the fourth quarter of 2024, MiddleGround intends to take STEMMER Imaging private.

MiddleGround Capital has already secured a stake of approximately 69.4% of all outstanding shares through a purchase agreement with Stemmer’s majority shareholder PRIMEPULSE SE, who plans to remain as a minority shareholder. Shareholders and members of the management board holding approximately 8.3% of outstanding have agreed to accept MiddleGround’s offer.

The management and supervisory boards of STEMMER IMAGING reportedly support the offer, subject to review of the yet to be published offer document.