Danfoss Offers To Buy All of Sauer-Danfoss
Sauer-Danfoss Inc. said 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 Sauer-Danfoss 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 told its shareholders to take no action with respect to the offer until they have been advised of the company's position.