The Stockholm Stock Exchange closed slightly higher on Monday, recovering from a morning dip. In the news flow, Sleep Cycle climbed sharply following a buyout offer.

At the close, the OMXS30 index was up 0.19 percent at 3,079.45. Shares worth approximately SEK 21.9 billion were traded on the Stockholm Stock Exchange.

Real estate was the best-performing major industrial sector, rising 3.0 percent. At the other end of the spectrum, consumer discretionaries lagged, falling 0.6 percent.

Among the leading stocks in the OMXS30 index, Ericsson B rose 4.6 percent, while Boliden gained 3.4 percent. The weakest performers were Assa Abloy B, down 2.7 percent, and Evolution, which shed 2.6 percent.

Private equity firm Altor has launched a cash bid of SEK 24.50 per share for sleep analysis company Sleep Cycle. The offer values the company at SEK 497 million and represents a 47 percent premium over Friday's closing price. The bidder has secured acceptances from shareholders representing just under 63 percent of the shares. The stock climbed nearly 46 percent and is currently trading just below the offer price.

European defense stocks retreated after Russian President Vladimir Putin suggested over the weekend that the war in Ukraine could be nearing an end, contributing to a 2.3 percent decline in Saab.

Power and automation group ABB is investing USD 200 million over three years to expand its medium-voltage equipment manufacturing in Europe. The stock rose 1.7 percent.

Education provider Academedia reported increased revenue and improved operating profit for the third quarter compared to the same period last year. The stock climbed 8.9 percent.

Research company Dicot Pharma is conducting a rights issue of SEK 210 million. The stock dropped 4.7 percent.

Electrical technology company Garo is moving its production from Poland to Sweden to streamline operations and strengthen competitiveness. The transition will be implemented gradually throughout the year and is expected to yield annual net savings of at least SEK 25 million. Garo also plans to sell its property in Poland, valued at between SEK 110 and 130 million. Additionally, the sales office in Germany will be closed, which is expected to reduce costs by SEK 5 million per year. The market rewarded the stock with a 7.8 percent gain.

Furthermore, aluminum profile company Profilgruppen has appointed Per Thorsell as its new CEO, effective May 18. Thorsell returns to the company having previously served as CEO between 2014 and 2019. The stock slipped 0.6 percent.

Technology company Silex advanced a further 11 percent and has now climbed 284 percent compared to the subscription price of SEK 81 per share when trading began last Thursday.

In the analyst flow, Balder strengthened by 5.8 percent after Handelsbanken raised its recommendation to buy from hold.

Bank of America upgraded Verisure to buy from neutral. The stock rose 5.1 percent.

SB1 Markets initiated coverage on Acast with a buy rating and a target price of SEK 45, leading the stock to rise 0.3 percent.

Dagens industri issued a buy recommendation for Systemair. The stock rose 4.6 percent.