Speaking to the Swiss financial agency, AWP, Pauli stated that Meyer Burger wants to gain a 50 percent stake in Roth & Rau. "As a first step, we want to achieve a 50 percent share as soon as possible. Such a majority is sufficient to be able to gain operative control and to consolidate R&R in our numbers," Pauli told AWP.
He went on to say that a higher contributuion – i.e. 75 percent plus one vote – is not a high prioirty. But, the 50 percent share is an important milestone. "Only if the judicial requirementsare there and it seems to be economically viable , we will take further steps in this matter," continued Pauli.
He went on to dismiss an increase in the current offer of 22 per R&R share. "There is no reason to adjust the price," he said.
As was reported yesterday, Meyer Burger received approval from the German Federal Financial Supervisory Authority to publish the offer document regarding its voluntary public tender offer for all non-par-value bearer shares of Germany-based Roth & Rau.
The Swiss company says that its offer is 40.04 percent above the 15.71 average share price of Roth & Rau shares.