Sulzer contests forming part of an organized group with Renova and Everest under Swiss takeover law. Furthermore Sulzer has no intention to bid for itself. In addition to the objection to the recommendation, Sulzer will ask for an exemption if the UEK ruling is confirmed. Sulzer is of the opinion that among others the treasury shares, acquired as part of the share buy back (in total 5.8%) and earmarked for cancellation, should not be considered as part of the calculation for the aggregate shareholding with respect to a bid.
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