Pierer Industries makes an offer to Leoni shareholders
Pierer Industrie AG decided to offer to the shareholders of Leoni AG the purchase of up to 3,135,218 shares of Leoni AG.
This corresponds to approximately 9,60% of the share capital. The acquisition is in form of a voluntary public partial purchase offer at a price of EUR 12.50 per Leoni-share. Pierer Industrie AG currently holds 15,30% of the voting rights of Leoni AG. The transaction serves the further strategic expansion of the existing participation to up to 24,90% of the voting rights, a press release from Pierer Industrie states. The Supervisory Board and the Management Board of Leoni AG will 'submit a reasoned opinion in accordance with the requirements of the German Securities Acquisition and Takeover Act' after due diligence, an email statement from Leoni reads.