Sauer-Danfoss Special Committee Retains Financial Advisor, Legal Counsel
The Special Committee of the Board of Directors of Sauer-Danfoss Inc. (NYSE: SHS) announced today that it has retained Lazard as the Special Committee's independent financial advisor and Kirkland & Ellis LLP as its independent legal counsel. As Sauer-Danfoss previously announced, on November 28, 2012 the Board of Directors formed a Special Committee of independent directors to consider, among other things, the proposal made on that date by Danfoss A/S ("Danfoss"), a beneficial owner of approximately 75.6% of Sauer-Danfoss' outstanding common stock, to purchase all of the outstanding shares of common stock of Sauer-Danfoss not owned by Danfoss for a cash purchase price of $49.00 per share.
The Special Committee cautions Sauer-Danfoss' stockholders and others considering trading in its securities that no decisions have been made by the Special Committee or the Board of Directors with respect to Danfoss' proposal. There can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated. The Special Committee does not intend to disclose developments regarding these matters until it has determined that there is a need, if any, to update the market.
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