Techem AG
Techem AG: Macquarie announces take over offer for Techem AG
Techem AG / Offer Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Price offered per share: € 58.00 in cash - Management Board welcomes the offer Eschborn, October 22th, 2007 - Today, Macquarie European Infrastructure Fund II an-nounced its decision to make a voluntary take over offer to the shareholders of Techem AG through its wholy-owned subsidiary MEIF II Energie Beteiligungen GmbH & Co. KG ('the Bid-der') for all outstanding shares in the company. The announced offer price is € 58.00 in cash per Techem share. The offer is conditional on an acceptance level of 50% plus one share of all outstanding shares (including own shares) being reached by the time the offer period expires, is extended, or expanded, as the case may be. On October 19th, 2007, the Federal Financial Supervisory Authority (BaFin) has, with the approval of Techem AG, released the Bidder from a 12-month restriction that prevented it from making a new take over offer for Techem AG. The Bidder, either by itself or via affiliated companies, currently holds a stake of over 25 per cent in Techem AG. The announced cash offer price of € 58.00 in cash implies a premium of 24.4 per cent over the three month volume-weighted share price of € 46.62. When adjusted for the € 2.00 divi-dend per share paid in March 2007, the offer price exceeds by € 5.00 the prior offer an-nounced by the Bidder on October 23rd, 2006, which was subsequently raised to € 55.00 per share. The management board of Techem AG welcomes the offer. Not withstanding the review of the offer document and the obligations of the management board of Techem AG under take over and company law, the management board of Techem AG will support the offer. The Bidder has made far reaching commitments in a framework agreement with Techem AG, in-cluding the ongoing support of Techem AG's strategy and the preservation of Techem's cor-porate headquarters and its workplaces. Horst Enzelmüller, CEO of Techem AG: 'I am convinced that this offer is the best among a number of alternatives investigated. I believe it is the best way to end the period of uncer-tainty in the interest of shareholders, employees, and customers. I am looking forward to being able to fully focus on the daily affairs and the further development of the company again. Macquarie has proven during the last year that it is an investor pursuing the long-term interest of the company.' Investor Relations: Jörg G.H. Peters Tel: + 49 6196 522 2406 joerg.peters@techem.de Press: Stefan Lutz Tel. + 49 6196 522 2990 stefan.lutz@techem.de 22.10.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Techem AG Hauptstr. 89 65760 Eschborn Deutschland Phone: +49 (0)6196 522-0 Fax: +49 (0)6196 522-3000 E-mail: investor@techem.de Internet: www.techem.de ISIN: DE0005471601 WKN: 547160 Indices: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found