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Diebold acquires enough Wincor shares for combo to proceed

Under the terms of the companies' combination agreement, Diebold required a tender of 75 percent of Wincor nontreasury shares by midnight Tuesday, a condition that Diebold says it has successfully met.

March 24, 2016

Diebold Inc. has announced that, based on the preliminary information, the company has purchased enough shares of Wincor Nixdorf AG to satisfy the minimum tender condition of the companies' business combination agreement. This means that the deal will be able to move forward as planned.

A Diebold press release said that, according to information from Clearstream, an international settlement and custody organization, as of midnight Tuesday, the company had met the minimum acceptance rate of 75 percent of Wincor nontreasury shares (or 67.6 percent of all Wincor shares, including those held by the Wincor treasury).

Clearstream said that 76.5 percent of all nontreasury shares were tendered by the deadline — or 68.9 percent of all shares, both treasury and nontreasury.

The offer remains subject to regulatory approval and is targeted to close in the summer of 2016, the press release said.

According to the German Securities Acquisition and Takeover Act, shareholders of Wincor Nixdorf who have not tendered their shares can still accept the offer during the additional acceptance period, which is expected to run from March 30 through April 12 at midnight CEST. 

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Diebold Nixdorf

As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.

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