Norway tycoon Helge Gaso faces losing out as SalMar bid for remaining NTS shares falls 40% short of original offer

Norwegian salmon farmer SalMar put forward its mandatory bid for the remaining shares in fellow salmon company NTS on Tuesday, with a dramatically lower share price putting it 40 percent below its original offer.

At the new price of NOK 75.78 (€7.29/$7.52) per share, NTS's second largest shareholder Helge Gaso, with his 46.5 million shares, will receive NOK 3.5 billion (€337 million/$347 million) if he accepts the offer. In February the same shareholding was worth around NOK 5.6 billion (€539 million/$556 million).