DGAP-News: First Sensor AG
/ Key word(s): Miscellaneous
Expiry of initial acceptance period: First Sensor shareholders accept voluntary public takeover offer for majority of outstanding shares
- 71.90 percent of shares tendered by end of initial acceptance period on September 2, 2019
- Additional acceptance period ends at midnight (Frankfurt am Main) / 6:00 pm (New York) on September 19, 2019
At the end of the initial acceptance period on September 2, 2019, First Sensor AG shareholders had tendered a total of 7,376,321 shares into the voluntary public takeover offer by TE Connectivity Sensors Germany Holding AG (TE Holding). This corresponds to 71.90 percent of the total share capital and voting rights of First Sensor as of the reference date. TE Holding is a wholly-owned subsidiary of TE Connectivity Ltd. (NYSE: TEL) (TE), one of the world's leading technology companies in the sensor and connection solutions sectors. Shareholders who did not accept the offer within the initial acceptance period can do so during the additional acceptance period that runs until midnight (Frankfurt am Main) or 6:00 pm (New York) on September 19, 2019. The final number of tendered shares will be announced by TE immediately after the end of the additional acceptance period.
At the expiry of the initial acceptance period all non-regulatory offer conditions had been fulfilled. Completion of the offer still depends on approvals relating to foreign investment clearances in Germany and the United States. The acquisition is expected to be completed by mid-2020 at the latest.
The Executive Board and the Supervisory Board of First Sensor AG welcome and support the takeover offer, and have advised shareholders to accept it. "We are convinced that the transaction is strategically sound and in the best interests of First Sensor, our shareholders, and our employees. The planned combination with TE will allow us to accelerate our growth in a market environment that is increasingly competitive worldwide. We can benefit here from TE's technology and product leadership and its global reach in order to provide our customers with a more extensive range of products. The result at the end of the acceptance period reflects this assessment," says Dr. Dirk Rothweiler, CEO of First Sensor AG.
The offer, along with further information and documents relating to the transaction, can be found online at www.sensor-offer.com. The statement of the Executive Board and the Supervisory Board, as well as the statement of the General Works Council of First Sensor AG are available in the Investor Relations section of the First Sensor website.
About First Sensor AG
About TE Connectivity
All of the information herein has been prepared by First Sensor AG solely for use in this announcement. The information contained in this announcement has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information contained in this announcement should be considered in the context of the circumstances prevailing at that time and has not been, and will not be, updated to reflect material developments which may occur after the date of the announcement. First Sensor AG may alter, modify or otherwise change in any manner the content of this announcement, without obligation to notify any person of such revision or changes.
This announcement may contain certain forward-looking statements and forecasts which relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on the First Sensor AG's business, financial condition and results of operations. The terms "anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "will", "would" or, in each case, their negative, or other variations or comparable terminology are used to identify forward-looking statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied in a forward-looking statement or affect the extent to which a particular projection is realised. Factors that could cause these differences include, but are not limited to, implementation of the First Sensor AG's strategy and its ability to further grow, risks associated with the development and/or approval of the First Sensor AG's products, technology changes and new products in the First Sensor AG's potential market and industry, the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions and legislative, regulatory and political factors. While we always intend to express our best judgment when we make statements about what we believe will occur in the future, and although we base these statements on assumptions that we believe to be reasonable when made, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of our control and could cause our actual results to differ materially from those we thought would occur. The forward-looking statements included in this announcement are made only as of the date hereof. We do not undertake, and specifically decline, any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
05.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||First Sensor AG|
|Phone:||+49 (0)30 63 99 23-760|
|Fax:||+49 (0)30 63 99 23-719|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||869199|
|End of News||DGAP News Service|
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