Pfeiffer Vacuum Technology AG - M&A Activity 2017

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Corporate | 31 March 2017 16:20

Pfeiffer Vacuum Technology AG: Press release on the announcement by Pangea GmbH

DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Offer

31.03.2017 / 16:20

The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Press release on the announcement by Pangea GmbH

Asslar, March 31, 2017. The Management Board of Pfeiffer Vacuum Technology AG (“Pfeiffer Vacuum”) has after the failure of the first offer acknowledged the intention of Pangea GmbH in accordance with §10 WpÜG to launch another public offer for all outstanding shares of Pfeiffer Vacuum at a price of EUR 110.00 per share in cash.

As the first offer, this offer is unsolicited and has not been discussed with the Management and Supervisory Board of Pfeiffer Vacuum prior to publication. There has been no dialog about the plans of Busch Group and a strategic concept related to Pfeiffer Vacuum even though the intention to launch another public offer is sufficient proof that Busch Group aims for control of Pfeiffer Vacuum.

Again Busch Group is not prepared to offer a customary market premium for a change of control transaction, even though it justifies the higher offer with the strong 2016 results and the improved outlook for the company and the sector. In addition, the announced offer price is even below the current share price. Subject to a detailed review of the offer document following publication the Management Board of Pfeiffer Vacuum as of today will not recommend the acceptance of the offer to its shareholders.

Pfeiffer Vacuum is well positioned strategically, technologically and financially to benefit from the long-term growth potential of the vacuum industry. Pfeiffer Vacuum will continue to implement its successful strategy of organic growth in markets such as Asia and the US combined with strategic acquisitions and as such is in a position to offer shareholders an attractive long-term perspective as a stand-alone business. Additionally, Pfeiffer Vacuum has announced to review further options in order to have shareholders participate adequately in the value creation at the company. As announced the Management Board of Pfeiffer Vacuum will therefore in the coming weeks promote a high presence of shareholders at the AGM.

The Management and Supervisory Board will review the offer together with its financial and legal advisors once the offer document is available and issue a reasoned statement thereafter. The shareholders of Pfeiffer Vacuum should wait until they can review this statement before taking any action.

Important Note

This Press Release may contain certain future-oriented statements based on current assumptions and prognoses by the corporate management of Pfeiffer Vacuum Technology AG or of companies affiliated with Pfeiffer Vacuum Technology AG. As a result of various known and unknown risks and contingencies, as well as other factors, the actual results, financial position, development or performance of Pfeiffer Vacuum Technology AG and of the companies affiliated with Pfeiffer Vacuum Technology AG may diverge significantly from the appraisals given here. Neither Pfeiffer Vacuum Technology AG nor the companies affiliated with Pfeiffer Vacuum Technology AG accept any obligation to update such future-oriented statements and bring them into line with future events or developments.

**Contact

Pfeiffer Vacuum Technology AG**

Investor Relations

Eerik Budarz

T +49 6441 802 1346

F +49 6441 802 1365

[email protected]

About Pfeiffer Vacuum

Pfeiffer Vacuum (stock exchange symbol PFV, ISIN DE0006916604) is one of the world’s leading providers of vacuum solutions. In addition to a full range of hybrid and magnetically levitated turbopumps, the product portfolio encompasses backing pumps, measurement and analysis devices, components as well as vacuum chambers and systems. Ever since the invention of the turbopump by Pfeiffer Vacuum, the company has stood for innovative solutions and high-tech products that are used in the markets Analytics, Industry, Research & Development, Coating and Semiconductor. Founded in 1890, Pfeiffer Vacuum is globally active today. The company employs a workforce of some 2,400 people and has more than 20 subsidiaries.

For more information, please visit www.group.pfeiffer-vacuum.com

31.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Pfeiffer Vacuum Technology AG
	Berliner Str. 43
	35614 Asslar
	Germany
Phone:	+49 6441 802-0
Fax:	+49 6441 802-1365
E-mail:	[email protected]
Internet:	www.pfeiffer-vacuum.de
ISIN:	DE0006916604
WKN:	691660
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange