Pfleiderer AG will announce today a voluntary takeover offer (the
'Offer') for all of the shares in Pergo AB (publ.). Pfleiderer AG will
submit the Offer via its indirectly wholly owned subsidiary Pfleiderer
Sweden AB at an offer price of SEK 51 in cash per share in Pergo.
Currently, 53,569,685 shares in Pergo are outstanding. Accordingly,
the total value of the offer amounts to SEK 2,732 million (approx. EUR
300 million). The shares in Pergo are listed in the Mid Cap
Industrials sector of the Nordic Stock Exchange under symbol 'PERG'.
The Offer represents a premium of 13.6 per cent compared to the
closing price of the Pergo share on 11 January 2007 of SEK 44.9 and a
premium of 17.2 per cent compared to the volume weighted average price
of SEK 43.5 during the last 20 trading days prior to the suspension of
trading of the Pergo share on 12 January 2007 which preceded the
announcement of the Offer.
The board of directors of Pergo has unanimously recommended Pergo
shareholders' to accept the Offer. In addition, Pfleiderer Sweden AB
has received irrevocable undertakings to accept the Offer from major
shareholders of Pergo together representing 41.9 % of the shares in
Pergo.
The Offer contains the usual conditions and among them the
condition that the Offer should be accepted by at least 90 % of the
total number of shares in Pergo as well as the receipt of all
necessary anti-trust approvals. Pfleiderer Sweden AB may waive
conditions partially or entirely. The acceptance period for the Offer
is expected to begin during the week commencing 29 January 2007 and
run for about four weeks. Subject to the approval of the anti-trust
authorities the settlement of the Offer is expected to begin about a
week after the end of the acceptance period.
The Pfleiderer cash offer is fully financed. Pfleiderer AG will
issue today a press release in compliance with Swedish and other
applicable laws and regulations. This press release will be publicly
available in the internet under www.pfleiderer.com. The offer document
will be made available in the internet at a later point in time.
This announcement does not constitute an invitation to purchase
any securities pursuant to the Offer or otherwise. The Offer will be
made solely by the offer documents, which will contain the full terms
and conditions of the Offer, including details of how the Offer may be
accepted.
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Pfleiderer AG Management board
Contact:
PFLEIDERER AG
Gala Conrad
Leiterin Unternehmenskommunikation/ Investor Relations
Tel.: + 49 (0) 91 81 / 28 - 8491
Fax: + 49 (0) 91 81 / 28 - 606
E-Mail: gala.conrad@pfleiderer.com
Richard Berg
Telefon.: + 49 (0)9181 / 28 - 8044
Fax: + 49 (0)9181 / 28 - 606
E-Mail: richard.berg@pfleiderer.com
Language: English
Issuer: Pfleiderer AG
Ingolstadter Strasse 51 93218
Neumarkt Deutschland
Phone: +49 (0)9181 28 - 8491
Fax: +49 (0)9181 28 - 606
E-mail: gala.conrad@pfleiderer.com
WWW: www.pfleiderer.com
ISIN: DE0006764749
WKN: 676474
Indices:
MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin-Bremen, Dusseldorf, Hamburg, Munchen, Stuttgart
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