After increasing its stake in Norwegian-based and LSE-listed job portal Stepstone from 32.97 percent to 52.27 percent early in September for 8.60 Norwegian Kronen per share, German media group Axel Springer offered to buy the 60.9 million shares not yet under its control from shareholders for 8.60 Norwegian Kronen. Shareholders were given until Oct. 12 to accept the offer.
By early this week Axel Springer’s offer had brought only an additional 725,757 shares under its control. So, the group improved its offer to 9 Kronen and gave shareholders chance until Oct. 23 to accept the new offer.
The shareholders who had sold their shares to Axel Springer for 8.60 Kronen, will also benefit from the increased offer and be paid 9 Kronen, the company said in a statement. The improved offer must, however, still be approved by the responsible authority in Norway, the company said.