Mercell Holding to acquire EU Supply for £15.7m.

Mercell Holding, a provider of e-tendering Software as a Service solutions, offered to acquire EU Supply, the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, for £15.7m. The 18.25 pence per share cash offer represents a 40.4% premium to the Closing Price of 13.0 pence per EU Supply Share on 9 May 2019. Mercell believes that the acquisition of EU Supply will support its strategy by creating an enlarged group with a presence in additional countries across Northern Europe, including the UK, the Netherlands, France and Germany. This will provide a stronger foundation for Mercell's longer term ambition of further European expansion.