Hanwha offers to acquire all shares at NOK 2.20/share (all-cash offer)Offer implies a 28% premium to yesterday’s close and 54% to 3-month VWAPBoard (excluding conflicted members) unanimously recommends accepting the offerOur take: In light of the debt burden, very challenging to see any remaining equity value

25 Apr 2025
Arctic FLASH: REC Silicon - All-cash offer at 2.2 NOK/sh

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Arctic FLASH: REC Silicon - All-cash offer at 2.2 NOK/sh
Hanwha offers to acquire all shares at NOK 2.20/share (all-cash offer)Offer implies a 28% premium to yesterday’s close and 54% to 3-month VWAPBoard (excluding conflicted members) unanimously recommends accepting the offerOur take: In light of the debt burden, very challenging to see any remaining equity value