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.
PALFINGER sets benchmarks with innovative crane and lifting solutions worldwide. As a leading technology and mechanical engineering company, PALFINGER transforms customer needs into seamlessly integrated solutions. A broad product portfolio and regional footprint drive balanced profitable growth. With its promise of Lifetime Excellence, PALFINGER delivers outstanding performance throughout the entire product lifecycle.
Around 12,000 employees, 30 international manufacturing sites, and a global distribution and service network ensure worldwide proximity to the market.
PALFINGER AG has been listed on the Vienna stock exchange since 1999 and achieved a revenue of EUR 2.34 billion in 2025.
For further information please contact:
Hannes Roither | VP Investor Relations | PALFINGER AG
M +43 664 206 9247 |h.roither@palfinger.com
Text and corresponding image material are available under "News" on the website www.palfinger.com.