Siemens has obtained over 90% of VA Tech’s shares, after the general acceptance period for their takeover bid terminated yesterday.
The vast majority of Austria-based VA Tech’s stakeholders agreed to Siemens’ US$83 per share offer to buy the company, and the takeover conditions Siemens asked for have been fulfilled, a VA Tech statement said.
One further condition for a successful takeover is still outstanding – approval by the anti-trust authorities in the EU, US and Canada. Should this approval not be granted by 20th July then, according to its offer, Siemens has the right to waive this condition.