Ad
Ad
Ad
© ljupco smokovski dreamstime.com Business | December 26, 2016

Epcos - new majority shareholder of Tronics

TDK Corporation and Tronics Microsystems SA have jointly announced that the all-cash public tender offer launched by TDK's subsidiary EPCOS AG has successfully closed.
Munich-based EPCOS has acquired 72.38% of the outstanding shares at a price of EUR 13.20 per share, thus exceeding the defined 65.41% success threshold for the offer. The acquisition of these shares represents a value of approximately EUR 33.432 million.

Thales Avionics, which holds a 20.9% stake in Tronics, will remain a strategic shareholder of the company. After the closing of the successful offer, Thales Avionics and EPCOS will hold in aggregate 93.30% of the capital and 88.88% of the voting rights of Tronics. The two companies will enter into a shareholders' agreement to act in concert.

Joachim Zichlarz, Corporate Officer and Senior Vice President of TDK, as well as Chairman of the Management Board, CEO and CFO of EPCOS commeted: “With the successful completion of the tender offer and the conclusion of our agreement with Thales, we have created a solid basis for further developing Tronics' business under the roof of TDK and, at the same time, boosting our innovativeness and market strength in one of the future's most promising technological fields. Moreover, TDK expects strong synergies with its own cutting-edge thin-film and assembly technologies.”

Pascal Langlois, Chairman of the Management Board and CEO of Tronics comments: "Tronics' shareholders have recognized the strong financial and industrial merits of the acquisition by TDK. Its solid financial basis and extensive know-how in materials and production engineering now provide a very good basis to grow further Tronics' inertial products and MEMS technologies. This is a great step in the company's development as we will benefit from TDK's leading and developing position as a powerful component manufacturer in industrial, automotive and consumer electronics markets.”

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
March 24 2017 2:16 PM V8.0.1-2