Siemens AG announces takeover bid to shareholders of IBS AG
Siemens AG today submitted to the shareholders of IBS AG (ISIN DE0006228406) the tender for Siemensí bid to acquire all of IBSís shares. Siemens AG is offering the IBS shareholders Ä5.00 cash per share. Based on IBSís closing price on the Xetra trading platform the day before Siemens announced its decision to submit a takeover bid, this price represents a 54-percent premium.
The acceptance period extends from April 23, 2007 to midnight on June 18, 2007. The offer is contingent on the fulfillment of a number of customary terms and conditions. For instance, it must be ensured that a minimum of 75 percent of the capital stock of IBS AG is assumed and that the approval of the German anti-trust authorities is obtained. The tender is available (in German only) at www.siemens.de/ibs-angebot or can be requested free of charge from Deutsche Bank AG, Taunusanlage 12, 60325 Frankfurt/Main, Germany.
On April 4, 2007, Siemens AG announced its decision to submit to the shareholders of IBS AG an unsolicited bid to purchase all IBS shares. As a provider of software solutions for industrial quality management, IBS is intended to complement the manufacturing execution systems (MES) business of Siemens AGís Automation and Drives (A&D) Group. IBSís major shareholders, who hold some 43 percent of the companyís capital stock, have already announced their binding acceptance of the offer.
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