Rolls-Royce Launches $234M Bid For Norway’s Odim

By Liz McKenzie

Law360, New York (February 26, 2010, 6:45 PM ET) -- British engine and automotive company Rolls-Royce PLC has reached a deal with the board of Odim ASA and will launch a recommended cash offer of 1.4 billion Norwegian crowns ($234 million) to purchase outstanding shares of the marine technology company.

Rolls-Royce announced the deal Friday and will offer Odim 45 crowns ($7.60) per share for the 67 percent of the share capital not already held by the group.

Rolls-Royce currently holds more than 15.5 million, or 33 percent, of issued Odim shares. Those shares were acquired...
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