STEMMER IMAGING Receives Takeover Bid
PUCCHEIM, Germany, July 23, 2024 — 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.
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