On Friday, April 12, 2013, Danfoss announced that they had successfully completed their tender offer for shares of Sauer-Danfoss not already owned by Danfoss. The completion of the tender offer was the first step in Danfoss’ two-step acquisition of Sauer-Danfoss pursuant to the previously announced merger agreement. Also on Friday Danfoss completed the second and final step of the acquisition, a short-form merger under Delaware law.
Sauer-Danfoss is the surviving company, and Danfoss has increased their ownership of Sauer-Danfoss from approximately 75.6% to 100%. The result of Danfoss’ acquisition of the remaining shares of Sauer-Danfoss will have little, if any, effect on how Sauer-Danfoss and its subsidiaries do business around the world. In relation to our customers, suppliers, and joint venture partners, it should be business as usual.