Business News • MarketWire • Danfoss A/S and Danfoss Acquisition, Inc. Announce Expiration of Tender Offer |
Danfoss A/S and Danfoss Acquisition, Inc. Announce Expiration of Tender Offer |
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Danfoss A/S and Danfoss Acquisition, Inc. Announce Expiration of Tender Offer
NEW YORK, NY--(Marketwire - April 30, 2010) - Danfoss A/S ("Danfoss") and Danfoss Acquisition, Inc. ("Danfoss Acquisition") today announced that their $14.00 per share cash tender offer for all of the outstanding shares of common stock of Sauer-Danfoss Inc. ("Sauer-Danfoss") (NYSE: SHS) not already owned by Danfoss or its subsidiaries expired at midnight, New York City time on Thursday, April 29, 2010, without acceptance of the tendered shares, due to the minimum tender condition not being satisfied. The depositary for the Offer has informed Danfoss and Danfoss Acquisition that 2,320,531 shares had been tendered and not withdrawn as of the expiration date of the tender offer. Danfoss Acquisition has instructed the depositary for the Offer to promptly return all shares tendered.
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