Trelleborg raises bid for Icopal to DKK 420 per share
Trelleborg raises bid for Icopal to DKK 420 per share Trelleborg has today decided to both increase and extend its original offer to acquire all of the shares in the Danish company Icopal A/S. The offer price is being raised from DKK 380 to DKK 420 per share. The acceptance period for the offer is simultaneously being extended to June 14, 2000. In other respects, the terms and conditions presented earlier continue to apply. The new bid corresponds to a premium of around 73 percent in relation to the highest price paid for the share end of 1999 (DKK 243) and a premium of around 42 percent in relation to the price paid on Thursday, May 4, 2000 (DKK 295), which was the day before the Trelleborg Group made its original offer. Since the report issued by Icopal on May 22, 2000, in which it was stated that the Icopal Board would actively strive to obtain a higher price for the shares, Trelleborg has been in contact with an extensive number of large institutional investors in Icopal. Based on these contacts, Trelleborg has now decided to raise its offer to Icopal's shareholders to DKK 420 per share. Those shareholders who have already accepted Trelleborg's original offer dated May 5, 2000, will also be subject to the increased offer of DKK 420 per share. Trelleborg's goal is to achieve 100 percent ownership of Icopal. If as a result of the current offer Trelleborg obtains 90 percent of the share capital in Icopal, the company will redeem the outstanding Icopal shares from the remaining minority owners and delist the share from the Copenhagen Stock Exchange. The detailed terms and conditions underlying the increased offer will be available through the Trelleborg website, as will the text of the original prospectus from May 5, 2000. For further information please contact Executive Vice President Hans Porat, phone +46 410 670 01 or Mikael Byström, the Corporate Communications Department, phone +46 410 670 37 (Mobile +46 708 55 21 69). www.trelleborg.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/31/20000531BIT00790/bit0001.doc http://www.bit.se/bitonline/2000/05/31/20000531BIT00790/bit0002.pdf