Offer for takeover again postponed
The submitting of the buying offer by Japanese Toyota Industries for all outstanding shares of Swiss Uster Technologies is once more postponed until February 29, 2012
The Board of Directors of Uster Technologies signalled acceptance of Toyotas further postponed publication of the takeover offer. The decision however was taken by the Swiss Takeover Board and a definite detailed timetable for the offer was set. The definite offer is assumed to be published February 29, 2012 and the takeover offer should be realised by May 15, 2012.
As we know the independent members of the Board of Directors of Uster Technologies are opposed to this takeover because they consider the offered price from Toyota Industries is too low and does not reflect the true value of Uster Technologies. They continue to recommend that shareholders should not undertake any measures before the final offer will be published.