Caverion – Caverion Board withdraws recommendation from North Holdings 3’s offer and unanimously recommends Crayfish BidCo’s offer

Caverion Board withdraws recommendation from North Holdings 3’s offer and unanimously recommends Crayfish BidCo’s offer

The Board of Directors of Caverion Corporation (the “Board”) announced on 23 March 2023 that it expected to withdraw its recommendation for North Holdings 3 Oy (the “Bain Consortium”) tender offer to acquire all of the issued and outstanding shares in Caverion Corporation (“Caverion”) that are not held by Caverion or any of its subsidiaries (the “Shares” or individually a “Share”) (the “Bain Consortium Offer”) and instead recommend the tender offer from  Crayfish BidCo Oy (“Triton”) (the “Triton Offer”), unless the Bain Consortium no later than 4 April 2023 presents an offer that is at least equally favourable to the shareholders of Caverion as the Triton Offer.

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