Nordic Capital Makes 2 Billion-Kronor Offer for Orc Group

Nordic Capital AB, a Swedish private-equity firm, agreed to acquire Orc Group AB (ORC), sparking the biggest jump in 10 years in the shares of the Stocholm-based trading and market-making services company.

Cidron Delfi Intressenter AB, owned by Nordic Capital, offered 86 kronor in cash for every Orc share, valuing the company at about 2 billion kronor ($290 million), Nordic Capital said today in a statement. Orc’s board unanimously recommended the bid, which offers a premium of 52 percent compared with the past three-month average share price, it said.

Orc had third-quarter net income of 12.9 million kronor compared with a net loss of 237,000 kronor a year earlier, the company said Oct. 13. Orc’s board said it hired Lazard to evaluate the offer and to contact other potentially interested parties.

“At this point the board of directors can neither confirm nor rule out that any competing offer will materialize,” Orc said in a statement. “The price that Cidron Delfi Intressenter offers entails a significant premium.”

Orc’s shares rose as much as 34 percent, and traded at 86 kronor, up 33 percent versus Dec. 16’s close, at 10:10 a.m. in Stockholm.

To contact the reporter on this story: Janina Pfalzer in Stockholm at jpfalzer@bloomberg.net

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net

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