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Danfoss launches a voluntary recommended public tender offer for all shares in Vacon

Danfoss A/S together with its group companies (“Danfoss”) and Vacon Plc (“Vacon”) have on 11 September 2014 entered into a combination agreement under which they agree to combine the drives businesses of Danfoss and Vacon (the “Combination Agreement”). In order to effect the combination Danfoss will, through its wholly owned subsidiary Oy Danfoss Ab (the “Bidder”), make a voluntary recommended public tender offer to purchase all the issued and outstanding shares in Vacon (the “Tender Offer”). In the Tender Offer Vacon shareholders are being offered a cash consideration of EUR 34.00 for each share in Vacon representing an aggregate equity purchase price of approximately EUR 1,038 million. Combining the two companies will create a Nordic based, global player – a new drives business with the clear ambition to build a leading position in the drives market.

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