Wavin N.V.: Update on unsolicited non-binding offer
(Thomson Reuters ONE) -
Zwolle,6 December 2011 - The Management Board and Supervisory Board of Wavin
today provide a status update on Mexichem's unsolicited non-binding offer for
the acquisition of all outstanding shares of Wavin.
The Boards have carefully considered the terms and conditions of Mexichem's
offer and requested further clarifications. A meeting has recently been held
between representatives of both companies and their financial advisors. Mexichem
has provided additional information on the terms and conditions of the offer,
such as strategic rationale, and plans regarding employees, organisational
structure, governance and proposed offer price. Following the meeting, Mexichem
has sent a confirmation letter, increasing the offer price per share to EUR
9.00, subject to certain conditions.
Wavin has evaluated the outcome of the meeting with Mexichem and the revised
offer price. The Boards are of the opinion that certain progress has been made
on non-financial items, but have also concluded that the proposed offer price of
EUR 9.00 per share is not acceptable as this price materially undervalues the
company and its prospects.
Wavin has informed Mexichem that future discussions are conditional on, amongst
others, an offer price acceptable to the Management Board and the Supervisory
Board as well as sufficient comfort on a number of non-financial terms of the
non-binding offer.
Further announcements will be made 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).
About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe.
The company provides essentials: plastic pipe systems and solutions for tap
water, surface heating and cooling, soil and waste, rain- and storm water,
distribution of drinking water and gas and telecom applications. Wavin is
headquartered in Zwolle (The Netherlands) and has a presence in 26 European
countries, with manufacturing sites in 18 of those and one in China. The company
employs approximately 6,400 people and reported revenue of more than EUR 1.2
billion for 2010. Outside Europe, it has a global network of agents, licensees
and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN).
More details about Wavin can be found at www.wavin.com
For further information:
Media Relations: Investor Relations :
Herbert van Zijl Ton Bruijne
Telephone: +31 38 429 4209 Telephone: +31 38 429 4357
Mobile: +31 6 51461442 Mobile : +31 6 51234949
E-mail: media(at)wavin.com E-mail: InvestorRelations(at)wavin.com
Click here to view the full press release in PDF format:
http://hugin.info/143050/R/1569577/487915.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(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: Wavin N.V. via Thomson Reuters ONE
[HUG#1569577]
Unternehmensinformation / Kurzprofil:
Datum: 06.12.2011 - 20:19 Uhr
Sprache: Deutsch
News-ID 95425
Anzahl Zeichen: 3732
contact information:
Town:
AD ZWOLLE
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 177 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Wavin N.V.: Update on unsolicited non-binding offer"
steht unter der journalistisch-redaktionellen Verantwortung von
Wavin N.V. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
