31.03.2017
Pfeiffer Vacuum Technology AG DE0006916604
DGAP-News: Pfeiffer Vacuum Technology AG: Press release on the announcement by Pangea GmbH
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Offer
Pfeiffer Vacuum Technology AG: Press release on the announcement by Pangea
GmbH
31.03.2017 / 16:20
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Press release on the announcement by Pangea GmbH
Asslar, March 31, 2017. The Management Board of Pfeiffer Vacuum Technology
AG ("Pfeiffer Vacuum") has after the failure of the first offer acknowledged
the intention of Pangea GmbH in accordance with §10 WpÜG to launch another
public offer for all outstanding shares of Pfeiffer Vacuum at a price of EUR
110.00 per share in cash.
As the first offer, this offer is unsolicited and has not been discussed
with the Management and Supervisory Board of Pfeiffer Vacuum prior to
publication. There has been no dialog about the plans of Busch Group and a
strategic concept related to Pfeiffer Vacuum even though the intention to
launch another public offer is sufficient proof that Busch Group aims for
control of Pfeiffer Vacuum.
Again Busch Group is not prepared to offer a customary market premium for a
change of control transaction, even though it justifies the higher offer
with the strong 2016 results and the improved outlook for the company and
the sector. In addition, the announced offer price is even below the current
share price. Subject to a detailed review of the offer document following
publication the Management Board of Pfeiffer Vacuum as of today will not
recommend the acceptance of the offer to its shareholders.
Pfeiffer Vacuum is well positioned strategically, technologically and
financially to benefit from the long-term growth potential of the vacuum
industry. Pfeiffer Vacuum will continue to implement its successful strategy
of organic growth in markets such as Asia and the US combined with strategic
acquisitions and as such is in a position to offer shareholders an
attractive long-term perspective as a stand-alone business. Additionally,
Pfeiffer Vacuum has announced to review further options in order to have
shareholders participate adequately in the value creation at the company. As
announced the Management Board of Pfeiffer Vacuum will therefore in the
coming weeks promote a high presence of shareholders at the AGM.
The Management and Supervisory Board will review the offer together with its
financial and legal advisors once the offer document is available and issue
a reasoned statement thereafter. The shareholders of Pfeiffer Vacuum should
wait until they can review this statement before taking any action.
Important Note
This Press Release may contain certain future-oriented statements based on
current assumptions and prognoses by the corporate management of Pfeiffer
Vacuum Technology AG or of companies affiliated with Pfeiffer Vacuum
Technology AG. As a result of various known and unknown risks and
contingencies, as well as other factors, the actual results, financial
position, development or performance of Pfeiffer Vacuum Technology AG and of
the companies affiliated with Pfeiffer Vacuum Technology AG may diverge
significantly from the appraisals given here. Neither Pfeiffer Vacuum
Technology AG nor the companies affiliated with Pfeiffer Vacuum Technology
AG accept any obligation to update such future-oriented statements and bring
them into line with future events or developments.
Contact
Pfeiffer Vacuum Technology AG
Investor Relations
Eerik Budarz
T +49 6441 802 1346
F +49 6441 802 1365
[email protected]
About Pfeiffer Vacuum
Pfeiffer Vacuum (stock exchange symbol PFV, ISIN DE0006916604) is one of the
world's leading providers of vacuum solutions. In addition to a full range
of hybrid and magnetically levitated turbopumps, the product portfolio
encompasses backing pumps, measurement and analysis devices, components as
well as vacuum chambers and systems. Ever since the invention of the
turbopump by Pfeiffer Vacuum, the company has stood for innovative solutions
and high-tech products that are used in the markets Analytics, Industry,
Research & Development, Coating and Semiconductor. Founded in 1890, Pfeiffer
Vacuum is globally active today. The company employs a workforce of some
2,400 people and has more than 20 subsidiaries.
For more information, please visit www.group.pfeiffer-vacuum.com
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31.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Pfeiffer Vacuum Technology AG
Berliner Str. 43
35614 Asslar
Germany
Phone: +49 6441 802-0
Fax: +49 6441 802-1365
E-mail: [email protected]
Internet: www.pfeiffer-vacuum.de
ISIN: DE0006916604
WKN: 691660
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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