Boss Media Under New Ownership

Last week, Boss Media received a buy-out offer from GEMed AB, a company jointly owned by GTECH and Medströms.  The offer of SEK 19.00 per share caused shares of Boss to jump 28.5 percent, as all indications were that the offer would be approved by Boss Media’s board.   

Wednesday, not only was the offer approved, but it was also increased, this time to SEK 25.00 per share.  Over the course of the day, GEMed bought up 8.6 million shares from two funds, Swedbank Robur and Zenit, increasing its holdings in Boss Media to 15.8 million shares.  This made GEMed the majority shareholder of Boss Media, with almost 55 percent of the outstanding shares, and thus gave GEMed control over the company. 

Boss shares closed right at SEK 25.00 on the day.