Archiv

DGAP-Adhoc: EPCOS AG: TDK and EPCOS Pursue a Comprehensive Partnership

31.07.2008
EPCOS AG / Strategic Company Decision 31.07.2008 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- TDK Corporation, ('TDK') (TSE: 6762, NYSE and LSE: TDK), and EPCOS AG, ('EPCOS') (EPCGn.DE), signed a Business Combination Agreement (BCA) today. The purpose of the agreement is to combine EPCOS with TDK's activities in the electronic components field. The BCA contains the basis of the partnership and the roadmap for its implementation. As a first step, TDK will launch a public tender offer for all outstanding shares of EPCOS and will offer EPCOS' shareholders EUR 17.85 in cash per share. Based on the number of EPCOS shares outstanding, this offer would value EPCOS at approximately EUR 1.2 billion equity value. Including net financial liabilites, pension obligations and minority interests this implies an enterprise value for EPCOS of approximately EUR 1.4 billion. TDK has informed EPCOS that it holds about 2.5% of the current registered share capital of EPCOS and that it has secured delivery of about a further 7.0%. The offer document is expected to be published after approval by the German Federal Financial Supervisory Authority (BaFin - Bundesanstalt für Finanzdienstleistungsaufsicht) during August 2008. The offer is subject to certain conditions, including a 50 percent plus one share minimum acceptance threshold on a fully diluted basis, and regulatory approvals. TDK expects the offer to close by October. Following the successful completion of the public tender offer, TDK will immediately begin the process of carving out its relevant passive components business. The objective is to combine this business with EPCOS' business under a new company, provisionally named TDK EP Components KK. This corporate separation is subject to the approval of TDK's general shareholders' meeting. Contact: Peter Mueller, Leiter IR, Tel.: 089-636-21324 31.07.2008 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: EPCOS AG St.-Martin-Straße 53 81617 München Deutschland Phone: +49 (0)89 636 - 09 Fax: +49 (0)89 636 - 21326 E-mail: investor.relations@epcos.com Internet: www.epcos.com ISIN: DE0005128003 WKN: 512800 Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Düsseldorf, Stuttgart, München, Hamburg; Terminbörse EUREX End of News DGAP News-Service =--------------------------------------------------------------------------

EPCOS AG / Strategic Company Decision 31.07.2008 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- TDK Corporation, ('TDK') (TSE: 6762, NYSE and LSE: TDK), and EPCOS AG, ('EPCOS') (EPCGn.DE), signed a Business Combination Agreement (BCA) today. The purpose of the agreement is to combine EPCOS with TDK's activities in the electronic components field. The BCA contains the basis of the partnership and the roadmap for its implementation. As a first step, TDK will launch a public tender offer for all outstanding shares of EPCOS and will offer EPCOS' shareholders EUR 17.85 in cash per share. Based on the number of EPCOS shares outstanding, this offer would value EPCOS at approximately EUR 1.2 billion equity value. Including net financial liabilites, pension obligations and minority interests this implies an enterprise value for EPCOS of approximately EUR 1.4 billion. TDK has informed EPCOS that it holds about 2.5% of the current registered share capital of EPCOS and that it has secured delivery of about a further 7.0%. The offer document is expected to be published after approval by the German Federal Financial Supervisory Authority (BaFin - Bundesanstalt für Finanzdienstleistungsaufsicht) during August 2008. The offer is subject to certain conditions, including a 50 percent plus one share minimum acceptance threshold on a fully diluted basis, and regulatory approvals. TDK expects the offer to close by October. Following the successful completion of the public tender offer, TDK will immediately begin the process of carving out its relevant passive components business. The objective is to combine this business with EPCOS' business under a new company, provisionally named TDK EP Components KK. This corporate separation is subject to the approval of TDK's general shareholders' meeting. Contact: Peter Mueller, Leiter IR, Tel.: 089-636-21324 31.07.2008 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: EPCOS AG St.-Martin-Straße 53 81617 München Deutschland Phone: +49 (0)89 636 - 09 Fax: +49 (0)89 636 - 21326 E-mail: investor.relations@epcos.com Internet: www.epcos.com ISIN: DE0005128003 WKN: 512800 Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Düsseldorf, Stuttgart, München, Hamburg; Terminbörse EUREX End of News DGAP News-Service =--------------------------------------------------------------------------

Copyright (c) 2007 Dow Jones & Company, Inc.

Zur Startseite