PALFINGER news

PALFINGER Adhoc - Minimum threshold for takeover bid Norwegian TTS Group ASA not reached

12.08.2016

As announced in the adhoc release from June 19th 2016, the PALFINGER Group lodged a takeover bid on July 18th 2016 for the shares in TTS Group ASA, which is listed on the Oslo Stock Exchange. One condition for closing the takeover bid by PALFINGER was the acceptance of more than 90% shares in TTS on a fully diluted basis. 

The acceptance period for the offer expired at 16:30 today. PALFINGER did not receive the required acceptances of more than 90%; therefore, the PALFINGER Group will not takeover TTS on the basis of the placed takeover bid from July 18th 2016.


ABOUT PALFINGER AG

The international mechanical engineering firm of PALFINGER is the global leader for innovative crane and lifting solutions. With a workforce of over 11,600, 34 manufacturing sites and a worldwide network of dealerships and maintenance centers at over 5,000 locations, PALFINGER is always close to the customer.

As the leader in its engineering field, the company aims to ensure its partners’ business success in the long term by providing solutions and products that remain economically and ecologically viable in the future. Its broad product and model portfolio allows PALFINGER to take digitalization and the deployment of artificial intelligence to new levels.

As a global company with strong roots in its home region, PALFINGER is convinced that thinking and acting in the interests of sustainability plays a vital role in successful business operations. This is why the company assumes social, ecological and economic responsibility along the entire value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2020 achieved a revenue of EUR 1.53 billion.

 

For further information please contact:

Hannes Roither | Company Spokesperson | PALFINGER AG
T +43 662 2281-81100 | h.roither@palfinger.com

Texts and accompanying images are available in the “News” section of www.palfinger.ag, www.palfinger.com.