24 February 2012
FLSMIDTH INCREASES OFFER TO ACQUIRE ALL LUDOWICI SHARES TO $11.00 CASH PER SHARE
Ludowici Limited ("Ludowici") announces that it has
today received an increased offer from FLSmidth
& Co A/S ("FLSmidth") to acquire all of
Ludowici's shares at a price of $11.00 per share (less
any dividends determined, declared or paid by Ludowici before
the transaction is completed) by way of a Scheme of
Arrangement ("Revised Offer").
No changes have been proposed to the terms of the Scheme
Implementation Agreement entered into by FLSmidth and
Ludowici on 16 February 2012, other than to reflect the
increased offer price.
The Ludowici Board is considering the Revised Offer and will
update the market in due course.
The Ludowici Board notes that the Revised Offer would not
proceed if the application made by The Weir Group PLC
("Weir") to the Takeovers Panel on 13 February 2012
("Application") results in the Takeovers Panel
making orders which have the effect that the proposed Revised
Offer cannot proceed, including because the Takeovers Panel
determines that the statement the subject of the Takeovers
Panel proceedings relating to the Application was a last and
final statement and must not be resiled from.
Phil Arnall Chairman Ludowici Limited