* Duerr wins 75.8 percent of Homag voting rights
* Offers 26.35 euros for remaining shares
* Says can finance takeover from own liquidity
* Homag shares rise 7.1 pct, above offer price
(Adds details on financing, shareholder agreements, purchase
FRANKFURT, July 15 Germany's Duerr
said on Tuesday it had secured 75.8 percent of voting rights in
Homag and would launch a cash offer for the remaining
shares, valuing the woodworking equipment specialist at 413
million euros ($563 million).
Duerr has been investing in bolt-on acquisitions to
diversify beyond its core business of supplying production
systems for the automotive sector and to tap into growing demand
for technologies such as gluing, filling and energy efficiency.
The company based in the southwestern German town of
Bietigheim-Bissingen agreed to buy a total 53.7 percent of Homag
shares for 219 million euros from Deutsche Beteiligungs AG
, a share pool of the Schuler family and the Klessmann
foundation and two further shareholders whom Duerr did not name.
In addition, it is joining the Schuler/Klessmann share pool,
which owns 25.1 percent of Homag shares.
Investors sometimes pool their shares to have a larger
combined stake in a firm and have more say in company decisions.
Typically members of share pools take a joint stance in
questions about company strategy.
Deutsche Beteiligungs AG said Duerr was paying it 26 euros
per share, less than the 26.35-euro public takeover offer
launched earlier on Tuesday, for its 39.5 percent stake in Homag
and said it may use the proceeds to pay its shareholders a
Homag, based in the Black Forest region, is the global
leader in the manufacture of plant and machinery for wood
processing, with more than 5,000 employees and an estimated
market share of 28 percent, according to its website.
It posted 2013 sales of 788.8 million euros and a net profit
of 18.4 million.
Duerr said it did not plan to squeeze out minority
shareholders nor to delist Homag's stock, and said the Homag
brand would remain independent under the Duerr umbrella.
Homag said its management and supervisory boards would
comment on Duerr's bid once full offer documents were available.
Homag's stock was up 7.1 percent at 27.10 euros by 1429 GMT.
Duerr said it could finance the acquisition with its own
funds, having held 867 million euros of liquid funds at the end
of March, including proceeds from a bond placed earlier this
Duerr AG is being advised by Macquarie on the transaction.
($1 = 0.7331 Euros)
(Reporting by Maria Sheahan; Editing by Kirsti Knolle and