Nexans' unsolicited offer substantially undervalues Draka
(Thomson Reuters ONE) -
After careful consideration, the Board of Management and the Supervisory Board
of Draka Holding N.V. ("Draka") are of the view that the unsolicited indicative
non-binding proposal from Nexans is inadequate as it substantially undervalues
Draka and does not address the position and legitimate interests of all
stakeholders, nor the execution risk of the transaction as proposed by Nexans.
Draka will actively review its strategic alternatives, including continuing
Draka's stated stand-alone strategy, and will evaluate these alternatives taking
into account the interests of all its stakeholders, including its shareholders.
In this context, Draka acknowledges Flint Beheer B.V.'s intention to exit as a
Draka shareholder.
Draka will keep its shareholders and all other stakeholders informed of all
significant developments, and will issue additional statements if and when
appropriate.
This is an announcement in accordance with Section 5:25i paragraph 2 of the
Dutch Financial Supervision Act (Wet op het financieel toezicht).
Pdf version of the press release
NOTE FOR EDITORS: for more information, please contact:
Draka Holding N.V.:
Michael Bosman - Director Investor Relations +31 20 568 9805;
michael.bosman(at)draka.com
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|Publication of trading update for the | |
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Company profile
Draka Holding N.V. ('Draka') is the holding company of a number of operating
companies that are active worldwide in the development, production and sale of
cable and cable systems. Draka's activities are divided into three groups:
Energy & Infrastructure, Industry & Specialty and Communications.
Within these three groups, the activities are organised into divisions. Energy &
Infrastructure consists of the Europe and Asia-Pacific divisions; Industry &
Specialty consists of the Automotive & Aviation, Elevator Products, Cableteq
USA, Industrial and Offshore divisions and the Communications Group comprises
the Telecom Solutions, Multimedia and Specials, Americas and Optical Fiber
divisions.
Draka has 68 operating companies in 31 countries throughout Europe, North and
South America, Asia and Australia. Worldwide, the Draka companies employ some
9,400 people. Draka Holding N.V.'s head office is in Amsterdam. In 2009, Draka
reported revenue of ? 2.0 billion and net income of ? 48.3 million (excluding
non-recurring items).
Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed
on NYSE Euronext
Amsterdam. The company is included in the Next150 index and the AMX index
(Amsterdam Midkap index). Options on Draka shares are also traded on the NYSE
Euronext Amsterdam Derivative Markets.
More information on Draka Holding N.V. can be found at www.draka.com.
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Draka Holding NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 27.10.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 46548
Anzahl Zeichen: 0
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"Nexans' unsolicited offer substantially undervalues Draka"
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