© Akasol Business | June 07, 2021
BorgWarner acquires 89% of Akasol
Shareholders of AKASOL AG have accepted the voluntary public takeover offer by ABBA BidCo AG, a subsidiary of BorgWarner Inc., after the extended acceptance period expired with an acceptance rate of 89.08% of the Akasol shares outstanding.
The minimum acceptance threshold of 50% plus one share was thus clearly exceeded, a press release reads. "Nearly four months ago, BorgWarner and Akasol announced their joint plans for the future and the takeover offer. Now we have reached a significant milestone with the completion of the offer. We members of the Management Board of Akasol consider the high acceptance rate to be a sign that the offer to Akasol shareholders was made at a reasonable price. We are looking forward to now beginning our cooperation with BorgWarner in the new shareholder structure. We will develop a sustainable strategy to seek to realize Akasol's growth potential in Europe, North and South America," said Sven Schulz, CEO of Akasol AG.
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