PNE AG
PNE AG: Board of Management and Supervisory Board of PNE AG recommend the acceptance of the voluntary public takeover offer by Morgan Stanley Infrastructure Partners
DGAP-News: PNE AG
/ Key word(s): Statement
Corporate News Board of Management and Supervisory Board of PNE AG recommend the acceptance of the voluntary public takeover offer by Morgan Stanley Infrastructure Partners – Reasoned Statement according to section 27 Takeover Act published – Total amount of the consideration for shareholders is adequate – Intentions of the Bidder as the formation of a Strategic Partnership are positive
In accordance with their respective own examination performed independently of one another, the Board of Management and the Supervisory Board believe that the total amount of the consideration which is based on the offer price per PNE share is adequate. The consideration in the view of the Board of Management and the Supervisory Board, appropriately reflects the value of the Company at the present time – i.e. also taking into account the current overall regulatory, geopolitical and macro-economic situation. In addition, the Board of Management and the Supervisory Board consider the intentions of the Bidder stated in the offer document concerning the Company’s future business operations and in particular the formation of a Strategic Partnership (as defined in Section 8.1(b) of the offer document) as positive. The Board of Management and the Supervisory Board therefore support the Bidder’s offer, which they consider to be in the best interest of the Company. On the basis of the careful review and the explanations made in its reasoned statement, the Board of Management and the Supervisory Board recommend that the PNE shareholders accept the offer. Orderly process The fully reasoned statement by the Board of Management and the Supervisory Board is published on the company’s website https://ir.pne-ag.com/en/share/#section220.
Contacts for enquiries
11.11.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | PNE AG |
Peter-Henlein-Straße 2-4 | |
27472 Cuxhaven | |
Germany | |
Phone: | 04721 / 718 – 06 |
Fax: | 04721 / 718 – 200 |
E-mail: | info@pne-ag.com |
Internet: | http://www.pne-ag.com |
ISIN: | DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0, |
WKN: | A0JBPG, A2LQ3M, , A12UMG, |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 909339 |
End of News | DGAP News Service |