Updated: After an extended offer period, Meyer Burger now owns over 75% of Roth & Rau shares. Shares representing more than 33% of the share capital and voting rights of Roth & Rau had been tendered within the latest acceptance period.
The definitive results will be announced on 28 June 2011, according to the company.
A day after announcing it had received over 75% of the shares in Roth & Rau, Meyer Burger has achieved its objective of acquiring 81.89% of the share capital in the PV equipment supplier, making the friendly take-over effectively completed.
“We are pleased that the majority of the shareholders of Roth & Rau AG have accepted our tender offer. With a participation of almost 82%, we have reached our objective. We are very satisfied with this excellent result. We will initiate a consolidation and integration process as soon as the approval by the Chinese antitrust authorities is received,” said Peter Pauli, Chief Executive Officer of Meyer Burger Technology Ltd.
Click the links below for coverage of the sequence of events involved in the takeover bid over the past few weeks:
May 30th: Rena’s owner buys 15% stake in Roth & Rau; advises that Rena is not looking to out-bid Meyer Burger
May 16th: Meyer Burger ploughs ahead with Roth & Rau takeover
April 21st: Meyer Burger purchases further shares in Roth & Rau
April 11th: Meyer Burger to acquire Roth & Rau for approximately €356.6 million