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Bucher Industries - takeover offer for Jetter AG
Bucher Beteiligungsverwaltung AG, a subsidiary of Bucher Industries AG, has decided today to tender a voluntary public takeover offer to the shareholders of Jetter AG for their shares against a consideration of EUR 7.00 per share.
The offer will be made under the terms and conditions yet to be disclosed in the offer document. It will not be subject to a minimum acceptance quota. Bucher Beteiligungsverwaltung AG told that several institutional shareholders committed themselves to accept the offer of Bucher Beteiligungsverwaltung AG with respect to their entire holding in Jetter AG. Combined with the shares of Jetter AG held by Bucher Industries AG, which shall be transferred to Bucher Beteiligungsverwaltung AG in connection with the offer, this corresponds to a portion of 42.8 % of all outstanding Jetter AG shares.
The supervisory and management boards of Jetter AG support the takeover offer. Mr. Martin Jetter plans to resign from the management board of Jetter AG as of 31 December 2013 and to switch subsequently to the supervisory board. Mr. Christian Benz, member of the management board since 1 April 2013, shall succeed him as CEO.
