EQT Consortium Makes $4.5 Billion Offer for Sweden’s Fortnox (3)

A consortium including funds managed by EQT AB wants to take Swedish financial services firm Fortnox AB private in an offer valued at 44.5 billion kronor ($4.5 billion).

The offer price for Fortnox, a provider of cloud-based products such as payroll and accounting services, equates to 90 kronor per share in cash, representing a 38% premium compared to the group’s closing price on March 28, according to a statement on Monday.

The offer, which values Fortnox at 54.9 billion kronor, saw the company’s share price rise as much as 37% when trading started in the Swedish capital.

“Fortnox has done ...