PADERBORN / NORTH CANTON (AFX) – lt The proposed acquisition of the Paderborn ATM manufacturer Wincor Nixdorf &; WIN.ETR & gt; by US rival Diebold has taken a decisive hurdle. The official takeover bid took until the end of the period in Tuesday night at 68.9 percent of the shareholders, as Diebold announced on Thursday.
In order for the number set by the Americans minimum ratio of 67.6 percent was slightly exceeded. Missing now the approvals of regulators for the merger. Diebold was confident to complete the acquisition this summer.
Until recently, it was unclear whether Diebold gets tendered enough shares or agreed in November deal still bursts. A few hours before the deadline, the group from Ohio had no 50 percent of the shares safely. However, this banter is usual with such takeover bids. Just professional investors often wait until the last minute in the hope of a better offer. The stock market reacted relieved. Wincor shares shot in a first reaction to the surpassed threshold on Thursday afternoon by a good 22 percent to 54 euros upwards.
DIEBOLD CAN WINCOR NOW CHECKING
Together with the nearly 10 percent on companies that keeps Wincor its own shares itself, Diebold has now a good three quarters of Wincor-play safely. Americans can conclude a domination and profit so already. Shareholders who have not yet accepted the offer, have from next Wednesday (30.3.) Had to have the right to submit their shares within the 14-day grace period still on the same terms.
Diebold and Wincor agreed to a merger in November. The Americans put for 38.98 euros in cash and 0.434 of its own shares per Wincor Nixdorf paper on the table. The price reflected in presenting the offer in mid-November a value of 52.50 euros per Wincor-paper, a total of the offer thus amounted to around 1.7 billion euros.
INDUSTRY IN TRANSITION
The new group will in future Diebold Nixdorf hot and its legal headquarters in North Canton in Ohio have. This Paderborn loses almost 50 years after the founding of Nixdorf Computer AG the headquarters of the traditional company.
The acquisition by the US company comes at a time when the industry is in a period of tremendous upheaval. Wincor Nixdorf is struggling with weak demand, particularly for ATMs for years. Banks holding back on investments and hardly come from the retail pulses. In the emerging countries, business is sluggish. In China for example, local providers perform an aggressive price war. Together, the number two and three in the sector after the US company NCR
WINCOR RECENTLY RECOVERED see better prepared for the changes.
In the fiscal year 2014/2015 (1 October), Wincor-profit slumped by more than 90 percent to 8 million euros. The company’s turnover with 9400 employees decreased by 2 percent to 2.4 billion euros. However Wincor had found at the beginning of the new fiscal year under its own steam again on track and off to a big leap in profits in the first quarter.
The planned merger, a group formed with an annual turnover of 4.8 billion euros, 25,000 employees and close to one million ATMs.
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