EQT consortium makes bid for Fortnox takeover

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Mar 31 2025

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Tender Offer Announcement: EQT X and First Kraft AB have made a public tender offer to acquire all shares of Fortnox Aktiebolag, valuing the company at SEK 54.9 billion, with an offer price of SEK 90 per share, subject to certain conditions including regulatory approvals.
Board Conflicts and Valuation: Due to conflicts of interest, key board members, including Olof Hallrup and Cecilia Ardstrom, have abstained from participating in discussions related to the offer. The Board has engaged Ernst & Young for an independent valuation, which deemed the offer reasonable for shareholders.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.