Fortum to Acquire Elmera for NOK 5.1bn

Acquisition Announcement

Fortum Oyj, the Finnish energy company, announced on Monday, 29 June 2026, that it has entered into a recommended voluntary cash tender offer to acquire all issued and outstanding shares of Elmera Oy. The offer price is set at NOK 47 per share, which values the transaction at approximately NOK 5.1 billion. This price reflects a 59 % premium over Elmera’s closing price of NOK 29.6 on 24 June 2026. The tender offer is conditional and will only proceed upon receipt of all required approvals from the relevant regulatory authorities.

Following the announcement, Fortum shares rose 0.82% while Elmera shares gained 2.74%.