Miba AG has been informed by its majority shareholder, Mitterbauer Beteiligungs-Aktiengesellschaft (MBAG), that a takeover offer addressed to free-float shareholders is planned. The company was also informed that MBAG targets a squeeze-out and a delisting of the Miba preferred shares from the Vienna Stock Exchange, likely in the fourth quarter 2015.
MBAG intends to make a voluntary public offer in accordance with Sections 4 et seq of the Austrian Takeover Code (“ATC”) to the shareholders of Miba to purchase all no par value preferred bearer shares Issue B of Miba which are listed for trading on the Vienna Stock Exchange.
The offer price will amount to EUR 550 per preferred share and the offer document is expected to be published on or about July 30, 2015. The offer period will commence upon publication of the offer and will presumably last three weeks.