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Foundry Daily News

29. May 2007

Müller Weingarten shareholders accepted takeover offer /

Schuler AG holds 96.5 percent of shares in Müller Weingarten AG on completion of takeover bid

The mandatory offer made by Schuler AG to the shareholders of Müller Weingarten AG resulted in the purchase of 32.01 percent of shares in Müller Weingarten AG as of May 15, 2007, 24:00. On completion of the mandatory offer, Schuler AG therefore now holds a total of 96.5 percent or 8,105,724 shares of Müller Weingarten AG. The free float proportion is thus less than 5 percent of Müller Weingarten shares. As announced, Schuler AG has initiated a squeeze-out process, during which the shares of the remaining minority shareholders in Müller Weingarten AG are to be transferred to Schuler AG in return for a cash compensation of € 15.74 per share.

Jürgen Tonn, Chairman of the Board of Management of Schuler AG, stated: “With the success of our offer, we have completed the next scheduled step toward the full merger of Müller Weingarten AG and Schuler AG. We now have the necessary latitude to exploit the new growth opportunities created by this merger and to enhance the market positioning of the new company Schuler Weingarten AG as a global leader in forming technology for the metalworking industry.”

The decision to acquire Müller Weingarten AG was taken by Schuler’s Board of Management and Supervisory Board on March 27, 2007. In a first step, 64.49 percent of shares in Müller Weingarten AG were acquired from Metzler Beteiligungsgesellschaft mbH in Frankfurt, Germany. The new company will trade under the name “Schuler Weingarten AG”. It is already the technological and global market leader with a world-wide market share of around 35 percent and annual sales of over € 900 million.

The two companies complement each other in many respects and their combination is above all aimed at implementing a common growth strategy. The drivers of this growth will be new, innovative products resulting from considerably enhanced engineering potential, a stronger presence in the world’s growth markets – in particular in Asia and Eastern Europe – and the expansion of the successful services business. The ability of Schuler Weingarten AG to adapt to future needs will also help secure jobs in Germany for years to come.

The complete takeover is expected by the end of the current year. On April 17, 2007, Schuler AG made a mandatory offer to the shareholders of Müller Weingarten AG to acquire their no-par value, bearer shares listed on the German stock exchange, as well as those no-par value, bearer shares not listed, for a payment of € 15.74 per share (“mandatory offer”). The mandatory offer period ended on May 15, 2007, 24:00 (CET).

About the Schuler Group

As the technological and global market leader in metalforming, Schuler supplies machines, production lines, dies, process know-how and services for the entire metal-working industry. Our most important clients include car manufacturers and their suppliers, as well as companies in the energy, electrical and household equipment industry. Schuler is also the market leader in coin minting technology. Headquartered in Göppingen, Germany, the company is represented in over 20 nations around the world. In its fiscal year 2005/06, the Schuler Group generated sales of over € 560 million with 3,600 employees.

The Göppingen-based Schuler Group is one of Germany’s oldest industrial enterprises and can trace its roots back to a locksmith shop founded by Louis Schuler in 1839. Schuler subsequently emerged as the international flagship company in the metalforming equipment industry. In addition to its numerous foreign subsidiaries, the Schuler Group also comprises Müller Weingarten AG, which it acquired in April 2007.

Please refer to Öffnet einen externen Link in einem neuen Fensterwww.schulergroup.com for further information.

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