Pierer Industrie AG made an offer to acquire remaining 34.05% stake in Pankl Racing Systems AG (WBAG:PARS) from other investors for €30.9 million in stock on January 13, 2016. Under the terms of offer, Pierer will acquire all the shares which are not owned by Pierer Industrie AG and CROSS Industries AG. Pierer will acquire shares of Pankl Racing Systems AG for shares of CROSS Industries for an exchange ratio of 1:8. Pankl Racing Systems AG pursues no plans regarding a delisting. Pierer Industrie AG will submit an application to the Takeover Commission to extend the deadline for the filing of the tender document from 10 trading days to a maximum of 40 trading days.

Pierer Industrie AG cancelled the acquisition of remaining 34.05% stake in Pankl Racing Systems AG (WBAG:PARS) from other investors on March 23, 2016. The deal was terminated due to the final prohibition of the publication of the tender document by the Takeover Commission.