Diebold initiates voluntary takeover offer for Wincor shares

Diebold Inc. announced today that it has commenced the voluntary public takeover offer for all no-par value bearer shares of Wincor Nixdorf AG. The German offer document was approved by the German Federal Financial Supervisory Authority.

The publication of the offer document marks the beginning of the acceptance period of the takeover offer, which currently is set to end March 22 at midnight CET, according to a news release from the companies.

Tenders of Wincor shares must be made prior to the expiration of the takeover offer, in each case in accordance with the procedures described in the offer document.

Diebold is offering 38.98 euros ($43.46) in cash and 0.434 common shares of Diebold in exchange for each Wincor share.

The takeover offer is subject to certain closing conditions, including regulatory approvals and a minimum acceptance threshold of approximately 67.6 percent of all existing Wincor shares (including treasury shares held by Wincor Nixdorf which will not be tendered).

The takeover offer is being made pursuant to a business combination agreement between the companies last November.

Diebold views the proposed business combination positively and believes it is in the best interest of both companies, the release said.