13 June 2005
Takeover bid of Spohn Cement GmbH for HeidelbergCement AG
On Friday, 10 June 2005, Spohn Cement GmbH announced to submit a takeover bid to the shareholders of HeidelbergCement AG. A price of EUR 60 per share will be offered to the shareholders. In its press release Spohn Cement GmbH explicitly supports the strategy of the Managing Board for the further development of HeidelbergCement AG.
Spohn Cement GmbH will submit the offer to the German Federal Office for the Supervision of Financial Services (Bundesanstalt für Finanzdienstleistungsaufsicht BaFin) for examination. After acceptance by BaFin, Managing Board and Supervisory Board have to make an official statement. The shareholders have to decide in a certain period of time, determined by the bidder, if they accept the offer. This period has to be at least 4 weeks and must not exceed 10 weeks.
Spohn Cement is a company which belongs to members of the Merckle family. For many decades the Merckle family have been shareholders of HeidelbergCement and have also been represented on the company’s Supervisory Board.