Machine tools Japanese partner to take over Germany's DMG Mori Seiki AG
Japanese machine tool maker DMG Mori Seiki Co. Ltd plans to expand its holding in the German partner, DMG Mori Seiki AG, to more than 50%, the company announced on 21 January 2015.
The purpose of the voluntary public takeover offer is to raise the current voting ratio of DMG Mori Seiki Co. in DMG Mori Seiki AG, which is currently 24.3%, to more than 50%, the Japanese company said. It added that the minimum target number of shares to be offered by AG will be set as 50% plus one share. There will be no maximum target number of shares of DMG Mori Seiki AG to be offered, the company said.
The Japanese company offered €27.50 for the shares of DMG Mori Seiki AG it doesn’t already own, according to a statement from the Bielefeld-based company after the close of trading on 21 January.
Germany’s DMG merged with Mori Seiki in 2009.
According to DMG Mori Seiki Co., the successful tender offer will realise the integration of the two Partner companies as consolidated companies, from which more cooperative effects can be expected. In the area of sales, centralisation of Information is said to enable proposals and support that better meet customer needs and will contribute to further sales.