The deadline for shareholders of R. STAHL AG to tender their shares against payment of EUR 50.00 in cash per share ended at midnight last Tuesday. According to the counting today, it has been acknowledged that almost 20 percent of the voting rights of R. STAHL AG, and consequently less than 50 percent, were tendered to Weidmüller as of the end of the offer period. Weidmüller will therefore not further pursue the planned combination with R. STAHL.
"We are disappointed that we have not reached the minimum acceptance level for the combination. It is a missed opportunity for both companies. Unfortunately we could not convey our good arguments strongly enough to shareholders. We would like to thank all who tendered”, said Dr Peter Köhler, Chief Executive Officer of Weidmüller.
“We continue to focus on our future. For this, we have defined a clear path with our ‘Strategy 2020’. The positive business development of the past years reinforces our direction," notes Peter Köhler.
With its "Strategy 2020", Weidmüller has a long-term business concept which will be followed consistently. The declared objective is to strengthen its position as a globally leading provider of electrical connection technology and electronics by 2020, and continue to successfully grow in the market.
The company will now focus to a greater extent on three aspects of its "Strategy 2020".
1. Securing innovation and technology leadership:
Weidmüller will continue to invest in the development of new products and solutions, as innovations will be one of the key growth drivers. The company plans for investments of EUR 38 million in Research & Development this year, equalling the high level of the previous year. Already this year, 25 percent of all electronic products were launched less than five years ago. As a pioneer in Industry 4.0, Weidmüller will boost this share to significantly more than 40 percent by 2018, and then even further expand it.
2. Customer proximity and expansion of global presence:
Weidmüller will target the expansion of its sales and service network in growth regions such as North-East Europe, South America, South-East Asia, India and Africa. Overall, the company will significantly increase the number of its local sales companies by 2020 to offer greater customer proximity. At the same time, sales structures will be extended, and service for customers through additional application engineers and solutions specialists will be added. Weidmüller will continue to invest substantially to expand its global presence.
3. Further development towards a solution provider:
Weidmüller will more strongly integrate its components with a view to the respective industry. The objective is to offer application-oriented solutions that customers obtain on a one-stop shop basis. In this context, Weidmüller will also invest substantially in the upcoming years.
Contact: Marion M. Sommerwerck
Head of Corporate Communications
Phone: +49-5231 14-291401
This notification constitutes neither an offer to purchase, nor an invitation to make an offer to sell shares in R. STAHL AG. The terms and conditions of the takeover offer, as well as further provisions regarding the takeover offer, are communicated in the offer document. Investors and holders of shares in R. STAHL AG are strongly recommended to read the offer document and all other related documents in connection with the takeover offer, since they will contain important information.
It is not allowed to publish, distribute, or pass on this press release, the offer document, a summary or other description of the provisions of the takeover offer, or other informative documents relating to the takeover offer, or any other documents connected with it, whether directly or indirectly, outside the Federal Republic of Germany, if and insofar as this breaches applicable foreign regulations, or is dependent on compliance with official procedures or the issuing of authorization, or fulfilling other prerequisites, and these not being present. The acceptance of the takeover offer outside the Federal Republic of Germany may be subject to legal systems other than that of the Federal Republic of Germany and to legal restrictions. Persons who have come into possession of the offer document outside the Federal Republic of Germany and who wish to accept the takeover offer outside the Federal Republic of Germany, and/or who are subject to legal regulations other than those of the Federal Republic of Germany, are requested to obtain information on the relevant applicable legal regulations and to comply with these.
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