Datwyler Statement regarding offer for Premier Farnell plc
Further to previous announcements made by Dätwyler Holding AG (“Datwyler”) regarding its offer for Premier Farnell plc (“Premier Farnell”) (the “Offer”), full details of which are set out in a scheme circular published by Premier Farnell on 5 July 2016, Datwyler notes that it is a condition of the Offer that the required resolutions of the Premier Farnell shareholders necessary to approve and implement the scheme of arrangement have been passed on or before 20 August 2016.
Datwyler today announces that the terms of its Offer were final. It will furthermore not be seeking an extension to the above deadline and will invoke the condition and therefore its Offer for Premier Farnell will lapse on 21 August 2016.
Datwyler notes that, when the Offer lapses, Datwyler will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 35 of the City Code on Takeovers and Mergers until 21 August 2017.
As communicated previously, one-off transaction costs connected with the Offer, which will be incurred in EBIT, are between CHF 4 million and CHF 8 million. Additional one-off costs of approximately CHF 35 million to CHF 40 million related to currency hedging and exchange rate losses will also be accounted for in Datwyler’s financial results.
Datwyler continues to execute on its stated profitable growth strategy through both organic means and acquisitions. Following the implementation of the shared infrastructure platform, the emphasis within the Technical Components division is on organic growth through accelerated enlargement of the product range, geographic expansion and continuously improving operation performance and customers’ purchasing experience, alongside development of the distribution business through acquisitions.
Datwyler Group (www.datwyler.com)
The Datwyler Group is a focused industrial supplier with leading positions in global and regional market segments. With its technological leadership and customised solutions, the Group delivers added value to customers in the markets served. Datwyler concentrates on markets that offer opportunities to create more value and sustain profitable growth. The Technical Components division is one of Europe’s foremost high-service distributors of electronic, ICT and automation components and accessories. The Sealing Solutions division is a leading supplier of custom sealing solutions to global market segments, such as the health care, automotive, civil engineering and consumer goods industries. With a total of more than 50 operating companies, sales in over 100 countries and some 7'000 employees, the Datwyler Group generates annual revenue of some CHF 1'200 million. The Group has been listed on the SIX Swiss Exchange since 1986 (security number 3048677).
Datwyler: +41 (0) 41 875 19 00
Guido Unternährer, Head Corporate Communications
UBS Investment Bank (Financial Adviser to Datwyler): +44 (0) 20 7567 8000
Jonathan Rowley Martin Kesselring Jean-Baptiste Petard Sandip Dhillon
Photos (in print quality): http://www.datwyler.com/en/media/image-library/
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Important notices relating to the financial adviser
UBS Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK together with UBS AG which is supervised by the Swiss Financial Market Supervisory Authority FINMA in Switzerland (collectively “UBS”) are acting as financial advisers to Datwyler and no one else in connection with the matters set out in this RNS release. In connection with such matters, UBS, its affiliates, and its or their respective directors, officers, employees and agents will not regard any other person as their client, nor will they be responsible to any other person for providing the protections afforded to their clients or for providing advice in relation to the contents of this RNS release or any other matter referred to herein.