ASSA ABLOY launches SEK11.3bn offer for Cardo

ASSA ABLOY has already secured agreements with 63.6% of Cardo shareholders. Cardo’s board of directors unanimously recommends that Cardo shareholders accept the offer.

ASSA ABLOY says that Cardo’s Entrance Solutions division constitutes a strategically important step in developing ASSA ABLOY’s operations within its own Entrance Systems division.

However, ASSA ABLOY believes that Cardo’s other operations within wastewater solutions and process equipment for the pulp and paper industry, including ABS Pumps, do not fit ASSA ABLOY’s operations in the long-term, and that following the acquisition of Cardo, ASSA ABLOY will look at alternatives including the possible sale of these operations.