- Public Tender Offer declared successful
- Oerlikon holds 89.26% of Saurer
Pfäffikon SZ, December 4, 2006 - On October 18, 2006, the OC Oerlikon Corporation AG, Pfäffikon ("Oerlikon") submitted a public tender offer ("Offer") for all publicly held registered shares of Saurer AG, Arbon ("Saurer" and "Saurer Shares" respectively). On November 6, 2006, Oerlikon published an amendment to the Offer. Until the expiry of the offer period on December 1, 2006, Oerlikon obtained 1'404'162 Saurer Shares tendered into the Offer. This corresponds to 17.64% of the issued and, at the time of the publication of the Offer, publicly held Saurer Shares. In addition, as of the end of the offer period, Oerlikon has acquired 4'994'572 Saurer Shares on and off the stock exchange, which corresponds to 62.73% of the issued and, at the time of the publication of the Offer, publicly held Saurer Shares. Thus, the success rate is in the aggregate 80.37%. Taking into consideration the Saurer Shares already held by Oerlikon prior to the publication of the Offer and the Saurer Shares held by Saurer itself, Oerlikon in total holds 89.26% of the share capital and the voting rights of Saurer.
To the extent that condition (b) of the Offer - the approval or clearance by the competent competition authorities - is not yet satisfied, Oerlikon waives that condition. As a consequence, condition (a) of the Offer - no decision by any authority prohibiting the completion of the Offer - is deemed satisfied. Therefore, Oerlikon declares the Offer successful.
As noted in the amendment to the prospectus, an additional acceptance period of ten trading days will run from December 8, 2006 to December 21, 2006 in order for those holders of Saurer Shares who have not yet tendered their Saurer Shares to be able to tender them to the Offer. The offer price per Saurer Share amounts to CHF 135.00 net and will be paid on or about January 10, 2007.
he present information about the interim result regarding the public tender offer is provisional. Oerlikon will publish the final interim result on December 8, 2006 in German in the Neue Zürcher Zeitung and the Tages-Anzeiger as well as in French in Le Temps and l'AGEFI. Additionally, it will be published in German in the Finanz und Wirtschaft on December 9, 2006. The final interim result will also be supplied to Bloomberg on December 8, 2006.
