Sauer-Danfoss Says Received Offer for $49; Forms Committee to Consider
Sauer-Danfoss Inc. (NYSE: SHS) today confirmed that it has received notice from Danfoss A/S of its intention to launch a tender offer to acquire all of the outstanding shares of Sauer-Danfoss that it does not already own at a price of $49.00 per share in cash. Danfoss and its subsidiaries currently own approximately 75.6% of the outstanding shares of Sauer-Danfoss.
The Board of Directors has established a Special Committee to consider the offer. The Special Committee will consider and take a position with respect to the offer in accordance with applicable legal requirements. Sauer-Danfoss shareholders are advised to take no action with respect to the offer until they have been advised of the Company's position.
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