Exacompta Siège social entered into a transaction agreement to acquire Biella-Neher Holding AG from Neher Holding AG, EGS Beteiligungen AG, nebag ag (SWX:NBEN) and others for CHF 38.2 million on March 14, 2019. The acquisition will be framed as a public tender offer for all shares of Biella. The consideration offered is CHF 4,607 per share. Exacompta Siège social intends to withdraw Biella-Neher Holding AG from the list.The transaction is subject to minimum acceptance of 75%, approval by all relevant supervisory and competition authorities, shareholder approvals from Biella shareholders and other customary conditions. The Biella Board of Directors unanimously approved the acquisition and recommended that Biella shareholders accept Exacompta's tender offer. Neher Holding AG, EGS Beteiligungen AG, nebag ag with 52.69% of Biella-Neher Holding AG's capital have already committed to the deal. As of April 12, 2019, 39.78% of the publicly held shares of Biella had been tendered to Exacompta, resulting in a total acceptance of 92.47%. As of April 16, 2019, all items on the agenda, including those forming a condition of Exacompta’s offer were approved. As of May 13, 2019, the European Authorities have approved the acquisition of Biella-Neher Holding AG. The offer period is expected to start on March 15, 2019 and end on April 12, 2019. The extended offer period is expected to start from April 14, 2019 to May 8, 2019. Frank Gerhard, Reto Heuberger, Guy Deillon, Olivier Bühlmann, Richard Stäuber, Marc Vogelsang and Frédéric Fitzi of Homburger AG acted as legal advisors for Exacompta. Kathrin Enderli, Thomas Bähler and Michèle Remund of Kellerhals Carrard acted as legal advisors for Biella.KPMG acted as financial advisor to Biella-Neher Holding AG. Berner Kantonalbank AG (SWX:BEKN) acted as financial advisor to Exacompta Siège social.