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Meyer Burger successful in R&R public takeover bid

Following the announcement of its takeover bid back at the start of April, Meyer Burger Technology Ltd has acquired 81.9 percent of the share capital of German photovoltaic company Roth & Rau AG.

Peter Pauli: "We have reached our objective." Image: Meyer Burger Technology Ltd.

The Switzerland-based company received antitrust clearance from the German Federal Cartel Office (Bundeskartellamt) in May. However, before it can proceed with its integration plans, it must wait for clearance by the Chinese antitrust authorities.

When received, the settlement of the public tender offer and the payment of the offer price will be executed.

Meyer Burger acquired its 81.89 percent share from both the original acceptance period (14.9 percent) and an additional acceptance period (38.36 percent), in addition to the 17.79 percent of shares it held at the end of the acceptance period, plus "further shares", which were obtained outwith the tender offer.

"We are pleased that the majority of the shareholders of Roth & Rau AG have accepted our tender offer. With a participation of almost 82 percent, we have reached our objective. We are very satisfied with this excellent result. We will initiate a consolidation and integration process as soon as the approval by the Chinese antitrust authorities is received," commented Peter Pauli, Meyer Burger CEO.