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UPDATE 1-Transcom shares drop after Altor says it won't raise bid
March 1, 2017 / 12:34 PM / 9 months ago

UPDATE 1-Transcom shares drop after Altor says it won't raise bid

(Adds detail, background)

March 1 (Reuters) - Swedish private equity firm Altor said on Wednesday it would not hike its offer for call-center firm Transcom, sending Transcom shares, which had been trading above the bid level, lower.

* Altor says will not raise offer for Transcom

* Private equity firm Altor announced a recommended 2.29 billion crown cash bid of 87.50 SEK/share in December

* Altor said last week it was extending the acceptance period in its bid for Transcom Worldwide to March 10 after failing to reach the 90 percent threshold needed to complete the offer in the initial period.

* Both Maven Securities and Sand Grove Capital have disclosed Transcom holdings of more than 5 pct each since the bid was made.

* Transcom shares drop 4.6 pct to 88 SEK at 1225 GMT Source text for Eikon: (Reporting by Johannes Hellstrom)

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