Pfäffikon SZ, Switzerland, November 1, 2006 - OC Oerlikon Corporation Ltd., Pfäffikon ("Oerlikon," security no. 81 682, ticker: OERL), received the recommendation of the Swiss Takeover Board yesterday evening regarding its offer to acquire Saurer AG. Oerlikon notes with satisfaction that the Takeover Board's recommendation has approved its offer price of CHF 135. The recommendation further determines that the tender offer complies with the Federal Act on Stock Exchanges and Securities Trading of March 24, 1995, under the provision that certain specifications be made in the offer prospectus.
Oerlikon plans to publish the required specifications to the offer prospectus by November 6, 2006 at the latest. The waiting period will be extended until the date of this publication. The offer period (and trading on the second trading line (tendered Saurer shares)) will also begin on November 6, 2006.
