Diebold Inc. has confirmed the results of its tender offer for shares of Wincor Nixdorf AG, which means that the acquisition can move forward.
In a press release, Diebold reported that it had acquired 68.9 percent of Wincor Nixdorf shares as of March 29, narrowly exceeding the minimum required under the terms of an combination agreement reached by the two companies last November.
By the end of the acceptance period, 22,544,692 Wincor Nixdorf shares were tendered, the release said.
Also during that time, 262,279 voting proxies counting towards the minimum acceptance threshold were issued to Diebold.
Together, the number of shares and voting proxies represent approximately 68.9% of the share capital and voting rights in Wincor Nixdorf (including treasury shares).
Diebold President and CEO Andy Mattes commented on the progress of the deal:
We are excited to have successfully completed our takeover offer for outstanding shares of Wincor Nixdorf, enabling our shared vision of a truly global services-led, software-enabled company.
With this milestone achieved, we look forward to completing this transaction and integrating the two businesses after the appropriate regulatory approvals have been obtained.
We are receiving very positive reaction from our customers, who feel the combination will bring unique, added value to the self-service industry.
By leveraging innovative solutions and talent from both organizations, we will have the scale, strength and flexibility to successfully expand in Europe and other key markets while helping our customers through their own business transformation.
According to the German Securities Acquisition and Takeover Act, shareholders of Wincor Nixdorf who have not tendered their shares may still accept the offer through April 12 at midnight CEST.
Diebold will disclose a final figure of shares tendered following the expiration of the additional acceptance period, the release said.
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