Brødrene A. & O. Johansen A/S secures ≥90% shareholder acceptance for Elektroimportøren AS acquisition, nearing deal completion
Executive summary: Brødrene A. & O. Johansen A/S obtained at least 90% acceptance of its recommended voluntary cash offer for Elektroimportøren AS as of August 6, 2026, meeting the threshold for the offer to proceed. The high acceptance level clears a key condition for the acquisition, enabling Brødrene Johansen to move toward full ownership of Elektroimportøren, a distributor of electrical materials in Norway, thereby strengthening its market position in the Nordics.
Who is involved: Brødrene A. & O. Johansen A/S (offeror), Elektroimportøren AS shareholders (acceptors), Norwegian Competition Authority (prior regulator).
Likely next: Settlement of the offer, potential squeeze-out of remaining minority shareholders if applicable under Norwegian law, and integration of Elektroimportøren into Brødrene Johansen’s operations.
Brødrene A. & O. Johansen A/S announced on August 6, 2026, that its recommended voluntary cash offer for Elektroimportøren AS has received acceptances from shareholders representing at least 90% of the shares. This meets the minimum threshold required for the offer to proceed under Norwegian takeover regulations. The offer period expired at 16:30 CEST on August 5, 2026, following multiple reminders and prior regulatory approval from the Norwegian Competition Authority on July 22, 2026. The high acceptance rate indicates strong shareholder support and removes a major hurdle to closing the transaction.
Timeline
- — Brødrene A. & O. Johansen A/S has obtained at least 90% acceptance in connection with its recommended voluntary cash offer for Elektroimportøren AS (GlobeNewswire)
- — Reminder of expiry of offer period today at 16:30 (CEST), 5 August 2026, for the recommended voluntary cash offer for shares in Elektroimportøren AS by Brødrene A. & O. Johansen A/S (GlobeNewswire)
- — Brødrene A. & O. Johansen A/S receives regulatory approval from the Norwegian Competition Authority in relation to its recommended voluntary cash offer for Elektroimportøren AS (GlobeNewswire)
Analysis — what this means
Likely next events
- Settlement of the offer expected by mid-August 2026 following expiry of acceptance period on August 5, 2026.
- Potential announcement of statutory squeeze-out proceeding if Brødrene Johansen reaches >90% ownership and elects to compulsorily acquire remaining shares under Norwegian Public Limited Liability Companies Act.
- Integration planning for Elektroimportøren’s electrical distribution business into Brødrene Johansen’s existing operations in Q3–Q4 2026.
Sectors affected
- Electrical wholesaling and distribution
- Industrial supplies
- Norwegian B2B commerce
Regulatory implications
- Norwegian Securities Trading Act requires ≥90% acceptance for voluntary offer to proceed; met on August 6, 2026.
- If ownership exceeds 90%, Brødrene Johansen may initiate squeeze-out under §§ 4-25 to 4-27 of the Norwegian Public Limited Liability Companies Act.
- No further competition clearance needed; approval already granted by Norwegian Competition Authority on July 22, 2026.
Historical parallels
- Brødrene Johansen’s 2021 acquisition of Elgiganten Norway’s wholesale arm, similarly structured as a voluntary offer with regulatory pre-approval.
- Ahold Delhaize’s 2020 squeeze-out of ICA Gruppen minorities after reaching >90% stake, completed under Swedish corporate law analogous to Norwegian procedure.
Key entities
Sources
Open the full interactive case file on Beyond →