TRONICS : Public tender offer by TDK subsidiary EPCOS to acquire Tronics successful
The all-cash public tender offer announced on August 1, 2016, by TDK’s subsidiary EPCOS to acquire all publicly-held shares of Tronics has been successful.
EPCOS has acquired 72.38% of the outstanding shares at a price of EUR 13.20 per share, and has thus exceeded the defined 65.41%1 success threshold for its offer. The settlement of the tender offer will occur on December 27, 2016.
Through the acquisition of Tronics, TDK broadens its portfolio of cutting-edge sensor technologies and strengthens its basis for faster growth in the strategic field of sensors.
Thales Avionics will remain a strategic shareholder of Tronics. After the closing of the successful offer, Thales Avionics and EPCOS will enter into a shareholders’ agreement.
- The tender offer will automatically reopen in the beginning of January 2017 for a period of 10 trading days.