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Provider: Wright Reports
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Danfoss A/S Commences Cash Tender Offer For Sauer-Danfoss Inc


Friday, 15 Mar 2013 08:04am EDT 

Danfoss A/S announced that wholly owned subsidiary, Danfoss Acquisition, Inc., has commenced previously announced tender offer for all the shares of Sauer-Danfoss Inc. not already owned by Danfoss for $58.50 per share in cash. Sauer-Danfoss stockholders of record as of March 15, 2013 will also receive a cash dividend of $0.35 per share payable on March 29, 2013. Danfoss currently owns approximately 75.6% of the outstanding shares of Sauer-Danfoss common stock. The tender offer is being made pursuant to the Agreement and Plan of Merger, dated as of March 1, 2013, by and among Danfoss, Danfoss Acquisition and Sauer-Danfoss, which Danfoss and Sauer-Danfoss announced on March 1, 2013. 

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