EQS-News: Schaeffler AG to Launch Public Tender Offer for Outstanding Shares of Vitesco Technologies Group AGto Create a Leading Motion Technology Company
Public tender offer for all outstanding shares of Vitesco Technologies Group AG; offer price of 91 euros represents an attractive premium of around 20 percent on the 3-month volume-weighted average share price
- Public tender offer for all outstanding shares of Vitesco Technologies Group AG; offer price of 91 euros represents an attractive premium of around 20 percent on the 3-month volume-weighted average share price
Compelling strategic logic through complementary technology portfolios, leveraging the accelerating growth opportunity in e-mobility
Herzogenaurach | October 9, 2023 | The Executive Board of Schaeffler AG (‘Schaeffler”) has, with consent of the Supervisory Board, decided today to launch a public tender offer for all outstanding shares in Vitesco Technologies Group AG (“Vitesco”) (ISIN: DE000VTSC017) to create a leading Motion Technology Company with four focused divisions. - Vitesco shareholders can tender their shares into the offer to realize the attractive premium offered by Schaeffler.
- The tender offer is the first step of a planned three-step overall transaction that will lead to a merger of Vitesco Technologies Group AG into Schaeffler AG.
- Klaus Rosenfeld, CEO of Schaeffler AG, said: “With the launch of the tender offer today, we are initiating a transformative move for Schaeffler.