#Business
Uster takeover: again postponed but Toyota increased stake
The Board of Directors of Uster Technologies AG has noted and agrees to the decision by the Swiss Takeover Board to further extend the deadline of publication of the public tender offer by Toyota Industries Corporation for all publicly held shares of Uster Technologies AG. The independent Board Members continue to recommend that shareholders do nothing for the time being about the announced offer from Toyota Industries Corporation, but to wait until the Board of Directors delivers its official response to this offer.
And the Board has noted that Toyota Industries Corporation has, as expected, increased its equity stake in Uster Technologies AG through the previously announced acquisition of the shares held by Groupe Alpha.
On completion of this transaction, Toyota Industries Corporation will own 50.34% of all publicly owned shares in Uster Technologies AG.
The Board of Directors has also noted Toyota Industries Corporation’s confirmation that it will make a public offer for all outstanding shares in Uster Technologies AG within the statutory deadline. The independent members of the Board of Directors continue to recommend that shareholders do nothing for the time being about the announced offer, but wait until the Board delivers its official response to this offer.
