Key Takeaways
Shares in market research technology firm Cint Group AB (CINT.ST) jumped by a third after a consortium including its top shareholder and private equity fund Triton Partners launched a bid to take the Swedish company private. The cash offer suggests some tech companies may be worth more in private hands, especially those perceived as vulnerable to artificial intelligence.
"The offer provides shareholders with an opportunity to realise the value of their entire holding at a price that may not be possible to achieve through a sale on Nasdaq Stockholm in the foreseeable future," Cint said in a statement responding to the bid.
The bidding vehicle, named TriCarbs, is offering 5.60 Swedish crowns in cash per share, a 33 percent premium to the stock's last closing price. The consortium, which already holds 34 percent of Cint's shares, includes the company's largest investor Bolero, CEO Patrick Comer, former executive Brett Schnittlich, and Triton Fund 6. Cint's shares climbed 32% to 5.55 crowns on the news.
The deal highlights a growing divergence in how public and private markets value certain technology and software companies. The bid remains significantly below Cint's 2021 listing price, underlining a sharp turn in sentiment against businesses seen as exposed to disruption from artificial intelligence. Taking the company private allows for a longer-term strategy away from public market pressures. The offer document is expected to be published around May 13, and requires more than 90 percent acceptance to force a delisting of the stock.
This article is for informational purposes only and does not constitute investment advice.
