Sulzer does not further pursue a takeover at this stage
No Offer for Bodycote
Sulzer AG (“Sulzer”) announces that it is no longer considering making an offer for Bodycote International plc (“Bodycote” or the “Company”). During the course of this morning and well in advance of the 5pm deadline set by the UK Takeover Panel, Sulzer made an announcement describing a possible cash offer at 344.5 pence per share (including any final dividend paid) for all the issued and to be issued shares of Bodycote. However, despite Sulzer’s repeated attempts to engage in a constructive and friendly dialogue with Bodycote’s Board with the aim of making a recommended cash offer to the Bodycote shareholders, no agreement on a recommended transaction could be reached with the Board of Bodycote.
Sulzer is strongly committed to a strict acquisition discipline. On March 2, 2007, Sulzer publicly announced that it had sought to enter into discussions with the Board of Bodycote regarding a recommended cash offer for the issued and to be issued share capital of Bodycote.
Despite Sulzer’s repeated attempts after this public announcement to engage in a constructive and friendly dialogue with Bodycote’s board of directors with the aim of making a recommended cash offer to the Bodycote shareholders, no agreement on a recommended transaction could be reached with the Board of Bodycote.
For the purposes of Rule 2.8 and other relevant provisions of The City Code on Takeovers and Mergers (“City Code”), Sulzer reserves the right to announce an offer or possible offer or participate in an offer or possible offer for Bodycote and/or take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months, in the event that:
(i) the Board of Bodycote agrees to recommend such an offer; or
(ii) there is an announcement by any third party of a firm intention to make an offer for Bodycote; or
(iii) Bodycote announces a “whitewash” proposal for the purposes of Rule 9 of the City Code or a reverse takeover.
This announcement does not constitute or form part of any offer or invitation to sell or purchase any securities or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities. A “Restricted Jurisdiction” means Australia, Japan or any jurisdiction where the making or acceptance of an offer would violate the law of that jurisdiction.
Sulzer was founded in 1834 in Winterthur, Switzerland, and today is active in machinery and equipment manufacturing and surface engineering at over 120 locations worldwide. The divisions are global players in their respective customer segments, which include the oil and gas, chemical process, power generation, pulp and paper, automotive, and aerospace industries.
Dr. Gabriele Weiher, Phone +41 52 262 20 22, Fax +41 52 262 00 25
gabriele.weiher@sulzer.com
Verena Gölkel (media), Phone +41 52 262 26 82, Fax +41 52 262 00 25,
verena.goelkel@sulzer.com
UBS Investment Bank (financial adviser and broker to Sulzer)
Liam Beere, Phone: +44 20 7567 8000
Maitland (PR adviser to Sulzer)
Angus Maitland, Neil Bennett, Phone: +44 20 7379 5151
Sulzer does not further pursue a takeover at this stage
No Offer for Bodycote
Sulzer AG (“Sulzer”) announces that it is no longer considering making an offer for Bodycote International plc (“Bodycote” or the “Company”). During the course of this morning and well in advance of the 5pm deadline set by the UK Takeover Panel, Sulzer made an announcement describing a possible cash offer at 344.5 pence per share (including any final dividend paid) for all the issued and to be issued shares of Bodycote. However, despite Sulzer’s repeated attempts to engage in a constructive and friendly dialogue with Bodycote’s Board with the aim of making a recommended cash offer to the Bodycote shareholders, no agreement on a recommended transaction could be reached with the Board of Bodycote.
Sulzer is strongly committed to a strict acquisition discipline. On March 2, 2007, Sulzer publicly announced that it had sought to enter into discussions with the Board of Bodycote regarding a recommended cash offer for the issued and to be issued share capital of Bodycote.
Despite Sulzer’s repeated attempts after this public announcement to engage in a constructive and friendly dialogue with Bodycote’s board of directors with the aim of making a recommended cash offer to the Bodycote shareholders, no agreement on a recommended transaction could be reached with the Board of Bodycote.
For the purposes of Rule 2.8 and other relevant provisions of The City Code on Takeovers and Mergers (“City Code”), Sulzer reserves the right to announce an offer or possible offer or participate in an offer or possible offer for Bodycote and/or take any other action which would otherwise be restricted under Rule 2.8 of the City Code within the next six months, in the event that:
(i) the Board of Bodycote agrees to recommend such an offer; or
(ii) there is an announcement by any third party of a firm intention to make an offer for Bodycote; or
(iii) Bodycote announces a “whitewash” proposal for the purposes of Rule 9 of the City Code or a reverse takeover.
This announcement does not constitute or form part of any offer or invitation to sell or purchase any securities or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities. A “Restricted Jurisdiction” means Australia, Japan or any jurisdiction where the making or acceptance of an offer would violate the law of that jurisdiction.
Sulzer was founded in 1834 in Winterthur, Switzerland, and today is active in machinery and equipment manufacturing and surface engineering at over 120 locations worldwide. The divisions are global players in their respective customer segments, which include the oil and gas, chemical process, power generation, pulp and paper, automotive, and aerospace industries.
Dr. Gabriele Weiher, Phone +41 52 262 20 22, Fax +41 52 262 00 25
gabriele.weiher@sulzer.com
Verena Gölkel (media), Phone +41 52 262 26 82, Fax +41 52 262 00 25,
verena.goelkel@sulzer.com
UBS Investment Bank (financial adviser and broker to Sulzer)
Liam Beere, Phone: +44 20 7567 8000
Maitland (PR adviser to Sulzer)
Angus Maitland, Neil Bennett, Phone: +44 20 7379 5151
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