Pfeiffer Vacuum Technology AG
Pfeiffer Vacuum Technology AG: Extraordinary General Meeting
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): AGM/EGM PRESS RELEASE Asslar, March 7, 2017. Given the circumstances of the public takeover offer made by Pangea GmbH, a company wholly owned by Busch SE (“Busch Group”), and the offer document published on February 13, 2017, Pfeiffer Vacuum Technology AG (“Pfeiffer Vacuum”) is inviting the company’s shareholders to an extraordinary general meeting. The meeting will take place on Monday, April 3, 2017, at 10 a.m. in the Stadthalle Wetzlar, Brühlsbachstraße 2b, 35578 Wetzlar. The Busch Group’s offer stipulates a price of EUR 96.20 per Pfeiffer Vacuum share. Having carefully reviewed the offer and consulted with the bank UBS Europe SE, the Management Board and Supervisory Board of Pfeiffer Vacuum, in a reasoned statement that includes an addendum, rejected this offer for being inadequate and advised the shareholders of Pfeiffer Vacuum to not accept the Busch Group’s offer. Moreover, the Management Board and Supervisory Board are not persuaded by the bidder’s strategic concept. In keeping with the recommendations of the German Corporate Governance Code, Pfeiffer Vacuum’s shareholders are to be afforded the opportunity to speak to, discuss and ask questions about the takeover bid at the extraordinary general meeting. There is no provision for the adoption of a resolution on this sole item on the agenda. Manfred Bender, CEO of Pfeiffer Vacuum Technology AG, comments, “In our opinion, the Busch Group is aiming to gain active control of Pfeiffer Vacuum without paying a customary and appropriate takeover premium. A coherent strategic concept for potential collaboration has not yet been presented by Busch. Nothing less than the future of Pfeiffer Vacuum is at stake here. With this discussion, we are affording our shareholders the opportunity to make an informed decision and accept the offer or, as recommended, to reject it.” The convening of the extraordinary general meeting and the Busch Group’s expected waiver of the applicable terms for the closing of its offer would extend the acceptance period for the Busch Group’s takeover offer by six weeks. The offer period would then prospectively end at midnight of April 24, 2017. The full invitation to the extraordinary general meeting of Pfeiffer Vacuum Technology AG may be viewed in German only on the company website via the following link: Important Note Contact
For more information, please visit www.group.pfeiffer-vacuum.com
07.03.2017 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 |