Takeover of the operating companies of Balda AG: Heitkamp & Thumann increases purchase offer to 74 Mio. Euro
- With the new offer Heitkamp & Thumann moves into the position of the sole bidder
- Balda AG declares purchase agreement with Paragon rendered obsolete
- Considerable gains in value for shareholders immediately realizable
- Attractive future perspective for employees as part of a family owned growing group of companies
Dusseldorf, October 30, 2015 - The Heitkamp & Thumann Group, a leading global manufacturer of precision formed components made of metal and plastic, has increased its purchase offer for the takeover of the operating business of Balda AG by 4 million euros to a total of EUR 74 million. Balda AG has confirmed that the increased offer of the family-owned group of companies fulfills the conditions required to supersede the original Paragon purchase agreement with. Thus, Heitkamp & Thumann is now in the position of the sole bidder.
Christian Diemer, General Partner and CEO Heitkamp & Thumann Group, says: "We have decided to increase our purchase offer to ensure clarity and transaction security - for ourselves, our customers, suppliers, as well as for the shareholders and not least for the employees of the Balda companies. I therefore appeal to the shareholders of Balda AG to exercise their voting rights at the forthcoming shareholder meeting and to vote in favor of our offer. Only by doing so, shareholders can benefit from the attractive terms of our purchase offer.”
Peter Schmelzer, General Partner Heitkamp & Thumann Group and Chairman of its Presspart Division, adds: "The operating Balda companies complement the production and manufacturing expertise of our Presspart Division in an excellent manner. We offer all employees an attractive future perspective as part of a long-term oriented family owned group of companies."
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About the Heitkamp & Thumann Group:
The Heitkamp & Thumann Group is a leading global partner for the development and supply of world-class precision-formed components in both metal and plastic. The family-owned group comprises more than 20 small and medium-sized enterprises located in 9 different countries and employing some 2000 people. The success of the Group and its three business divisions is based on actions guided by a long-term perspective and continuity in the area of company management.
Press Contact: Nils Hubert, Director HR & Public Affairs | firstname.lastname@example.org | Phone: +49 171 8 111 819