Brief: Schaeffler Publishes Tender Offer For Outstanding Shares Of Vitesco Technologies

Schaeffler AG

15/11/2023 09:33

Nov 15 (Reuters) - SCHAEFFLER AG  SHA_p.DE :
    * PUBLISHES OFFER DOCUMENT FOR VOLUNTARY PUBLIC TENDER OFFER
FOR
OUTSTANDING SHARES OF VITESCO TECHNOLOGIES GROUP AG
    * OFFER PRICE OF 91 EUROS PER SHARE REPRESENTS AN ATTRACTIVE
PREMIUM OF AROUND 20 PERCENT ON THE 3-MONTH VOLUME-WEIGHTED
AVERAGE SHARE PRICE OF VITESCO
    * ACCEPTANCE PERIOD STARTS TODAY
    * FIRST STEP OF A PLANNED THREE-STEP TRANSACTION LEADING TO
THE
MERGER OF VITESCO INTO SCHAEFFLER AND CREATING A LEADING MOTION
TECHNOLOGY COMPANY
    * VITESCO SHAREHOLDERS HAVE THE CHOICE OF TENDERING THEIR
SHARES
OR BENEFITING FROM THE EXPECTED SIGNIFICANT SYNERGIES BY
RETAINING THEIR SHARES UNTIL THE PLANNED MERGER WITH SCHAEFFLER
    * ACQUISITION OFFER CAN BE ACCEPTED FROM NOW UNTIL DECEMBER
15,
2023
    * TENDER OFFER IS NOT SUBJECT TO A MINIMUM ACCEPTANCE
THRESHOLD;
CUSTOMARY CLOSING CONDITIONS AS LAID OUT IN THE OFFER DOCUMENT
APPLY
    * EXPECTS THE TENDER OFFER TO BE CLOSED IN EARLY JANUARY
2024

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