| Sulzer submits formal response to the takeover board |
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| On Friday, 2 March Sulzer AG submitted its filing to the Takeover Board, responding to the pre-announcement published by InCentive Capital AG in relation to its intended take-over bid. This follows the rejection by Sulzer’s Board on 23 February of InCentive’s take-over approach. The submission of a formal response to the Takeover Board at this stage is the normal course of action in such situations. | |
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The purpose of this filing for Sulzer is a necessary response to the InCentive pre-announcement of 19 February, 2001, in particular in relation to legal, procedural and regulatory matters. Sulzer has a duty to its shareholders to ensure that any proposals to its shareholders are presented in a clear, thorough and viable manner. InCentive’s proposals, as currently formulated, are complex, involving not only an intended take-over bid, but also various shareholder resolutions and a spin-off structure. Sulzer’s filing therefore seeks to determine the clarity, thoroughness, and viability of InCentive’s proposals.
Sulzer will provide information on the outcome of the Takeover Board’s review when this has been completed. |
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