Endress+Hauser Secures Analytik Jena Shares
The agreement also includes provisions by Endress+Hauser that the Analytik Jena name will be retained, the company’s location in Jena will be expanded and the number of employees will increase. The agreement essentially gives Endress+Hauser control of 75% of Analytik Jena’s shares. Earlier this month, Analytik Jena announced that it expects its fiscal 2013 operating profit to show a 62%–69% decline due to restructuring measures, lower revenue at its Japanese subsidiary, and increased depreciation and amortization expenses.
Reinach, Switzerland 10/31/23; Jena, Germany 11/14/13—Analytik Jena announced that Endress+Hauser, which currently holds 47% of the company’s shares, has concluded an option agreement giving it the right to purchase an additional 28% stake through the purchase of the shares owned by the German state of Thuringia, which controls 18%, and the shares held by CEO Klaus Berka, which controls 10% (see IBO 9/30/13). Endress+Hauser has the right to purchase the shares at a price of €13.75 ($18.57 = €0.74 = $1), the same price as it is offering shareholders. Under the agreement, Endress+Hauser agreed that Analytik Jena’s Executive Board will remain, the company will operate as a separate unit, and the Analytical Instrumentation and Life Science business units will be retained. Endress+Hauser can only change the structure if certain financial figures are not met in fiscal 2014. Thuringia and Mr. Berka have the option to sell their shares to Endress+Hauser between October 1, 2014, and December 31, 2014. Endress+Hauser’s mandatory offer to shareholders is valid October 31 to November 28. “The primary goal of the acquisition is to establish a pillar in laboratory analytical measuring technology, with its own structures for production and sales,” stated Dr. Heiner Zehntner, corporate legal counsel for Endress+Hauser.
