Heitkamp & Thumann KG cancelled the acquisition of substantially all operations and assets of Balda AG.
The shareholders meeting is scheduled on November 30, 2015 and if necessary on December 1, 2015 regarding the offer of Heitkamp & Thumann. The agenda includes among others the approval of the general meeting regarding the offer of H&T. The management and the supervisory board of Balda AG have decided to adhere to the agenda and their recommended resolution to approve the offer of Heitkamp & Thumann, since the offer of Stevanato is until now non-binding. At this meeting subject to the cancellation of the approval resolution of the offer by H&T voting on the binding offer of Stevanato would be held. If Stevanato does not present the announced binding offer in due time or if it does not satisfy the expectations, the approval resolution of the general meeting regarding the offer of H&T could be completed without a need for another general meeting. As of November 26, 2016, a competing bid was announced by Stevanato. As of December 1, 2015, the transaction has been accepted by shareholders of Balda. With fulfillment of all contractual completion conditions, the transaction is expected to close in the first quarter 2016.
Stevanato can make a binding offer until December 14, 2015. Balda would then call an extraordinary general meeting in order to receive the shareholder's consent on the offer. On January 29, 2016, Heitkamp & Thumann KG made a revised offer to acquire substantially all operations and assets of Balda AG (XTRA:BAD) for 90 million. Schleifenbaum & Adler acted as legal advisor to Heitkamp & Thumann. Michael Pfister of Deekeling Arndt Advisors acted as Public Relation advisor for the transaction. Björn Simon, Christian Vocke of Baker & Mckenzie acted as legal advisor to Heitkamp & Thumann. Hengeler Mueller acted as legal advisor to Balda.
Heitkamp & Thumann KG cancelled the acquisition of substantially all operations and assets of Balda AG (XTRA:BAD) on January 29, 2016.