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We represented Brady S.à r.l. as it issued a voluntary public cash tender offer, recommended by the Board of Directors of Nordic ID Oyj, for all shares in Nordic ID Oyj

  • Finland

    04-06-2021

    We represented Brady S.à r.l. as it issued a voluntary public cash tender offer, recommended by the Board of Directors of Nordic ID Oyj, for all shares in Nordic ID Oyj. The parties signed a combination agreement concerning the tender offer on 15 April 2021. This is the first takeover bid ever made for a company listed on First North Finland.

    The Board of Directors of Nordic ID Oyj recommends that the shareholders accept the tender offer. Shareholders who together represent approximately 92.91 per cent of all Nordic ID shares issued and outstanding accepted the tender offer. Brady S.à r.l. intends to acquire all of the shares in Nordic ID, ultimately through redemption proceedings in accordance with the Finnish Limited Liability Companies Act if necessary, and to apply for the delisting of the shares from Nasdaq First North Growth Market.

    Brady Corporation is headquartered in Milwaukee, Wisconsin and as of 31 July 2020, employed approximately 5,400 people in its worldwide businesses. Brady’s fiscal 2020 sales were approximately USD 1.08 billion.

    Nordic ID specializes in RFID readers, scanners, and the associated software to power track and trace applications within the industrial setting. It provides a solution that brings a digital identity to every component of a product by enabling customers to track and analyze the movement, status and location of products while generating intelligent data throughout the manufacturing process.

    Partner Vesa Turkki and Specialist Counsel Jarkko Hankaa and Specialist Counsel Henrik Sandholm were responsible for the case, and the team also included Partner Heikki Tuomela and Specialist Counsel Kimmo Suominen.

    For more information, please see the release here (in Finnish).

    Vesa Turkki, Partner
    Jarkko Hankaa, Specialist Counsel
    Henrik  Sandholm, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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