euro adhoc: Salzgitter AG
Publication of the Decision to Make an Offer to
Acquire Securities pursuant to Section 10 para. 1 of the German Securities
Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG)
Securities Acquisition and Takeover Act announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
offeror: Company: Salzgitter Mannesmann GmbH Address: Eisenhüttenstraße 99, D-38239 Salzgitter Contact: Bernhard Kleinermann, Investor Relations Tel.: +49/(0)5341/21-1802 Fax: +49/(0)5341/21-2570 Email: ir@salzgitter-ag.de Registered in the commercial register of the local court (Amtsgericht) of Braunschweig under HR B 200012
offeree: Company: Klöckner-Werke AG Address: Opernplatz 2, 60313 Frankfurt am Main ISIN: DE0006780000 Registered in the commercial register of the local court (Amtsgericht) of Duisburg under 8 HR B 100
Today, Salzgitter Mannesmann GmbH (the Bidder) has made the decision to make an offer to all holders of shares of Klöckner-Werke AG to acquire all outstanding shares of Klöckner-Werke AG by way of a voluntary public takeover bid (the Offer). The Bidder intends to offer to the shareholders of Klöckner-Werke AG an amount of EUR 15,00 per share (ISIN DE0006780000), each share representing an amount of EUR 5,12 of the registered share capital of Klöckner-Werke AG. The Bidder is a 100%-subsidiary of Salzgitter AG. With more than EUR 8 billion in external sales, an output of over 7 million tons of crude steel and a workforce of approximately 17,000 employees, Salzgitter AG is one of Europe's leading steel and technology companies. Salzgitter stock (WKN 620200) is included in the MDAX and is listed on the Prime Standard Segment of the Frankfurt Stock Exchange under ISIN DE0006202005. On 8 March 2007, Salzgitter AG and Michael C. Frege as insolvency administrator of WCM Beteiligungs- und Verwaltungs- GmbH & Co. KG entered into a preliminary agreement on the execution of a share purchase agreement regarding shares in Klöckner-Werke AG. Upon the execution of this agreement, the Bidder will acquire approximately 78% of the registered share capital of Klöckner-Werke AG. The share purchase agreement will be subject to certain conditions precedent, in particular clearance by the anti-trust authorities. In addition, presently the Bidder directly holds approximately 0,8% and Salzgitter AG holds approximately 4,4% of the shares in Klöckner-Werke AG. The Offer will be, amongst others, subject to the condition precedent of the execution of the share purchase agreement. The terms and conditions of the Offer will be contained in the offer document, which will be published on the internet under http://www.salzgitter-ag.de. The shares of Klöckner-Werke AG are listed on the Official Markets of the Stock Exchanges of Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Stuttgart, München and Hannover (ISIN DE0006780000). Important Information: This is neither an offer to purchase nor a solicitation of an offer to sell shares of Klöckner-Werke AG. The terms and conditions of the Offer will be notified in the offer document, which will be published after approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin). Investors and holders of shares of Klöckner-Werke AG are strongly advised to read the offer document and other relevant documents regarding the Offer when they become available because they will contain important information. Salzgitter, 21 March 2007 Salzgitter Mannesmann GmbH
end of announcement euro adhoc 21.03.2007 20:35:59
Further inquiry note:
Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783
E-Mail: kleinermann.b@salzgitter-ag.de
Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: MDAX, CDAX, HDAX, Midcap Market Index, Classic All Share,
Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Niedersächsische Börse zu Hannover / official dealing