Accenture Holding GmbH & Co. KG made a voluntary public takeover offer for 37.87% stake in SinnerSchrader Aktiengesellschaft (XTRA:SZZ) for €41.5 million on February 20, 2017. Under the terms of the transaction, Accenture will acquire the 37.87% stake in SinnerSchrader at €9 per share. In a related deal, Accenture announced its intent to acquire 62% stake in SinnerSchrader for €62.7 million Accenture will retain SinnerSchrader's current management. Subject to the evaluation of the offer document, the Management Board and Supervisory Board currently intend to support the envisaged takeover offer. As of April 6, 2017, SinnerScharder AG's management and supervisory board recommended to accept the offer of Accenture. The transaction is subject to customary closing conditions and is expected to close in the first half of 2017. As of April 12, 2017, the acceptance period of the offer will end on May 8, 2017. Deutsche Bank acted as financial advisor to Accenture. M.M.Warburg & CO acted as financial advisor to SinnerSchrader.