SKF commences tender offer for all outstanding shares of Kaydon Corporation
Resource from: SKF Group Likes:157
Sep 18,2013
Gothenburg, Sweden, 16 September, 2013: SKF today announced the commencement of its tender offer for all outstanding shares of Kaydon Corporation (NYSE:KDN) (“Kaydon”) for USD 35.50 per share in cash. The tender offer is being made pursuant to the previously announced Agreement and Plan of Merger dated 5 September, 2013 for SKF to acquire Kaydon.
The tender offer is subject to customary terms and conditions, including regulatory clearances and the tender of at least a majority of the outstanding shares of Kaydon common stock. Upon completion of the tender offer, SKF will acquire all remaining shares through a short form merger at the tender offer price.
SKF through its wholly owned subsidiaries, Atlas Management, Inc. and Dublin Acquisition Sub Inc. will file today with the U.S. Securities and Exchange Commission (“SEC”) a Tender Offer Statement on Schedule TO, setting forth in detail the terms of the tender offer. In addition, Kaydon will file today with the SEC a Statement on Schedule 14D-9, setting forth in detail, among other things, the Kaydon Corporation Board of Directors unanimous recommendation that Kaydon’s stockholders accept the tender offer and tender their shares in the offer.
Copies of these statements and other documents filed with the SEC are available at www.sec.gov or by contacting MacKenzie Partners, Inc. at (212) 929-5500 or Toll Free at (800) 322-2885.
The tender offer and any withdrawal rights to which Kaydon’s stockholders may be entitled expire at 11:59 p.m., Eastern Time, on 15 October, 2013, unless extended or earlier terminated.
Aktiebolaget SKF
(publ)
For further information, please contact:
Media Hotline: +46 31 337 2400
Press Relations: Rebecca Janzon, +46 31-337 3880; +46 727-173 880; rebecca.janzon@skf.com
Investor Relations: Marita Björk, +46 31-337 1994; +46 705-181 994; marita.bjork@skf.com
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2012 were SEK 64,575 million and the number of employees was 46,775. www.skf.com
® SKF is a registered trademark of the SKF Group.
(SKF Group)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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