Ratos submitted a rival bid to the Swedish technology company Semcon

STOCKHOLM, Sept 26 (Reuters) – Private equity firm Ratos ( RATOb.ST ) said on Monday it had made a cash offer worth 2.84 billion kroner ($249.1 million) to Swedish technology consultancy Semcon ( SEMC.ST ).

Sweden’s Ratos said in a statement last month that Finland’s Eteplan ( ETTE.HE ) had offered to acquire 157 crowns in Semcon’s 149-crown bid.

The Eteplan bid, which Semcon’s board recommended at the time, represented a 31.6% premium to the shares’ closing price the day before.

Rathos’ bid represents 6% of Semcon’s closing price on Friday. Stakeholders with a combined 52% stake in Semcon have agreed to accept the rival, subject to certain conditions, Rathos said.

Rathos said the acquisition would be a step in his strategy to become a more homogeneous group.

“The consulting industry is particularly attractive given the knowledge and experience Ratos employees have of the industry as a whole and of the company’s management,” he said.

Lazard is Ratos’ financial advisor for the deal and Cantor’s legal advisor.

($1 = 11.4011 Swedish kroner)

Reporting by Anna Ringström, editing by Terje Solsvik and Louise Havens

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