Pfeiffer Vacuum Technology AG
Pfeiffer Vacuum Technology AG: Press release on the announcement by Pangea GmbH
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Offer PRESS RELEASE Asslar, March 31, 2017. The Management Board of Pfeiffer Vacuum Technology AG (“Pfeiffer Vacuum”) has after the failure of the first offer acknowledged the intention of Pangea GmbH in accordance with §10 WpÜG to launch another public offer for all outstanding shares of Pfeiffer Vacuum at a price of EUR 110.00 per share in cash. Again Busch Group is not prepared to offer a customary market premium for a change of control transaction, even though it justifies the higher offer with the strong 2016 results and the improved outlook for the company and the sector. In addition, the announced offer price is even below the current share price. Subject to a detailed review of the offer document following publication the Management Board of Pfeiffer Vacuum as of today will not recommend the acceptance of the offer to its shareholders. Pfeiffer Vacuum is well positioned strategically, technologically and financially to benefit from the long-term growth potential of the vacuum industry. Pfeiffer Vacuum will continue to implement its successful strategy of organic growth in markets such as Asia and the US combined with strategic acquisitions and as such is in a position to offer shareholders an attractive long-term perspective as a stand-alone business. Additionally, Pfeiffer Vacuum has announced to review further options in order to have shareholders participate adequately in the value creation at the company. As announced the Management Board of Pfeiffer Vacuum will therefore in the coming weeks promote a high presence of shareholders at the AGM. The Management and Supervisory Board will review the offer together with its financial and legal advisors once the offer document is available and issue a reasoned statement thereafter. The shareholders of Pfeiffer Vacuum should wait until they can review this statement before taking any action. Important Note Contact For more information, please visit www.group.pfeiffer-vacuum.com
31.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Pfeiffer Vacuum Technology AG |
Berliner Str. 43 | |
35614 Asslar | |
Germany | |
Phone: | +49 6441 802-0 |
Fax: | +49 6441 802-1365 |
E-mail: | info@pfeiffer-vacuum.de |
Internet: | www.pfeiffer-vacuum.de |
ISIN: | DE0006916604 |
WKN: | 691660 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |