Avance advises Mehiläinen Yhtiöt Oy in a cash tender offer for all shares in Pihlajalinna Plc. Mehiläinen Yhtiöt Oy and Pihlajalinna Plc have on 5 November 2019 entered into a combination agreement pursuant to which Mehiläinen will make a voluntary recommended public cash tender offer for all issued and outstanding shares in Pihlajalinna. In the tender offer, Pihlajalinna's shareholders will be offered a cash consideration of EUR 16.00 for each issued and outstanding share in Pihlajalinna, valuing Pihlajalinna's total equity at approximately EUR 362 million.