BRUSSELS, May 8, 2024-

Navigator Paper UK, a wholly owned indirect subsidiary of The Navigator Company, has upped its tender offer to buy UK tissue converter Accrol from £0.38 ($0.48) to £0.39 per share.

Navigator’s new offer price values Accrol’s entire issued and to-be-issued share capital at approximately £130.8 million, implying an enterprise value of about £188.2 million. The firm launched a public, all-cash offer to buy Accrol Group Holdings at the end of March, stating that it sees the firm as a key pillar in its strategy of sustained expansion of its tissue business in the western European market.

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