Brief: Georg Fischer Announces Tender Offer For All Shares In Uponor

Georg Fischer AG

12/06/2023 06:48

June 12 (Reuters) - Georg Fischer AG  GF.S :
    * INSIDE INFORMATION: GF ANNOUNCES A VOLUNTARY RECOMMENDED
PUBLIC
CASH TENDER OFFER FOR ALL SHARES IN UPONOR AT EUR 28.85 PER
SHARE
    * ANNOUNCES A VOLUNTARY RECOMMENDED PUBLIC CASH TENDER OFFER
FOR
ALL SHARES IN UPONOR AT EUR 28.85 PER SHARE
    * TENDER OFFER VALUES UPONOR AT 10.6X COMPARABLE EV/EBITDA
FOR
YEAR ENDED DECEMBER 31, 2022
    * BOARD OF DIRECTORS OF UPONOR RECOMMENDS THAT SHAREHOLDERS
OF
UPONOR ACCEPT TENDER OFFER
    * BOARD OF DIRECTORS OF UPONOR RECOMMENDS THAT SHAREHOLDERS
OF
UPONOR ACCEPT TENDER OFFER
    * OFFER PRICE REPRESENTS PREMIUM OF 73.4% COMPARED TO EUR
16.64,
UNDISTURBED PRICE OF SHARE ON NASDAQ HELSINKI LTD ON APRIL 13,
2023, DAY PRIOR TO ALIAXIS REACHING ITS 5 PERCENT SHAREHOLDING
IN UPONOR
    * OFFER REPRESENTS PREMIUM OF 12.0% OVER REJECTED OFFER BY
ALIAXIS
OF EUR 25.75 PER SHARE
    * ORAS INVEST, LARGEST SHAREHOLDER OF UPONOR, WITH A
SHAREHOLDING
OF 25.7 PERCENT, SUPPORTS TENDER OFFER AND HAS IRREVOCABLY
UNDERTAKEN TO ACCEPT TENDER OFFER WITH ITS ENTIRE SHAREHOLDING
    * OFFER PERIOD IS EXPECTED TO COMMENCE ON OR ABOUT JUNE 26,
2023,
AND TO EXPIRE ON OR ABOUT SEPTEMBER 1, 2023
    * TENDER OFFER IS CURRENTLY EXPECTED TO BE COMPLETED DURING
Q4 OF
2023
    * TENDER OFFER VALUES UPONOR AT AN EQUITY VALUE OF EUR 2.1
BILLION
AND AT AN ENTERPRISE VALUE ("EV") OF EUR 2.2 BILLION
    * TENDER OFFER IS EXPECTED TO BE ACCRETIVE TO EARNINGS PER
SHARE
OF GF ALREADY IN FIRST FULL YEAR AFTER COMPLETION OF TENDER
OFFER.
    * GF OFFERS EUR 28.85 IN CASH FOR EACH SHARE VALIDLY
TENDERED IN
TENDER OFFER

Source text for Eikon:  ID:nWkr40RWMw 
Further company coverage:  GF.S 

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