On July 16th, Warwick Holding GmbH, an indirect subsidiary of funds advised by Morgan Stanley Infrastructure Inc., holding approximately 29 per cent of the shares in VTG Aktiengesellschaft, announced its decision to make a voluntary public takeover offer to all shareholders of VTG Aktiengesellschaft at an offer price of EUR 53 per share. According to the bidder, Kühne Holding AG, which holds approximately 20 per cent of the shares in VTG Aktiengesellschaft, irrevocably committed to tender the shares it currently holds in connection with the takeover offer.
The bidder has announced that the offer is subject to both the usual closing conditions and the closing of the Nacco acquisition. As is known, the completion of the Nacco acquisition was cleared by the responsible antitrust authorities subject to conditions. The company expects the acquisition of Nacco to be completed in the second half of this year, as anticipated.
The Executive Board and Supervisory Board of the company, together with their advisors, will analyse the offer in detail and without delay after its publication, and will comment on it in a reasoned opinion. VTG Aktiengesellschaft shareholders are requested not to take any action until they have received and reviewed this opinion.
