Powerflute updates on recommended offer

Finnish packaging company Powerflute notes Nordic Packaging and Container (Finland) Holdings (Bidco) has received acceptances for about 152.3m of its shares, or about 51.1%, following its recommended offer.

Bidco, subject to receiving the necessary anti-trust clearances, intended to waive all other conditions to the offer, barring the acceptance condition.

Thus, given anti-trust clearances were expected to be received by Nov. 1, Bidco was revising its first closing date to Nov. 4.