Uster Technologies' Board of Directors rejects announced take over offer
Source: The Board of Uster Technologies AG is advised by Credit Suisse. Date: 2011-12-06
Uster, Switzerland –– The Board of Uster Technologies AG recently had noted the announcement of a public offer made by Toyota Industries Corporation, at CHF 38.00 per share for the entire of the issued share capital of Uster Technologies AG. The independent Board Members are unanimously of the firm conviction that the announced offer significantly undervalues the company's businesses and its excellent prospects for profitable growth. Accordingly, it rejects the offer and qualifies it as not being in the interest of the public shareholders of Uster Technologies AG.
The Board’s detailed opinion will be announced to shareholders once a formal Offer document of Toyota Industries Corporation has been issued. In the meantime, shareholders are strongly advised to take no action in respect of Toyota Industries Corporation’s offer.
