As previously announced, Alfa Laval AB (publ) ('Alfa Laval' or the 'Offeror') and Neles Corporation ('Neles') have on 13 July 2020 entered into a combination agreement pursuant to which Alfa Laval has made a voluntary recommended public cash tender offer for all issued and outstanding shares in Neles (the 'Tender Offer').
The acceptance period under the Tender Offer commenced on 13 August 2020 at 9:30 a.m. (Finnish time) and expired on 30 October 2020 at 4:00 p.m. (Finnish time).
Preliminary result of Alfa Laval's recommended public tender offer for all shares in Neles
Alfa Laval AB (publ), 2 November 2020 at 9:30 a.m. CET
As previously announced, Alfa Laval AB (publ) ('Alfa Laval' or the 'Offeror') and Neles Corporation ('Neles') have on 13 July 2020 entered into a combination agreement pursuant to which Alfa Laval has made a voluntary recommended public cash tender offer for all issued and outstanding shares in Neles (the 'Tender Offer'). The acceptance period under the Tender Offer commenced on 13 August 2020 at 9:30 a.m. (Finnish time) and expired on 30 October 2020 at 4:00 p.m. (Finnish time).
According to the preliminary result of the Tender Offer, the shares validly tendered and not properly withdrawn in the Tender Offer represent, together with the total of 12,723,923 shares in Neles otherwise acquired by the Offeror prior to the date hereof, approximately thirty-three percent (33%) of all issued and outstanding shares and votes in Neles.
The completion of the Tender Offer is subject to certain conditions being fulfilled or waived by the Offeror on or by the date of the Offeror's announcement of the final result of the Tender Offer. These conditions include, among others, that the Tender Offer has been accepted with respect to shares representing, together with shares otherwise acquired by the Offeror, more than fifty percent (50%) of the issued and outstanding shares and votes in Neles.
The Offeror will confirm and announce the final result of the Tender Offer on or about 4 November 2020. If the final result of the Tender Offer confirms that the number of shares validly tendered and not properly withdrawn in the Tender Offer, together with shares otherwise acquired by the Offeror, remains at the same level as indicated by the preliminary result, the Offeror will not complete the Tender Offer. If, on the other hand, the final result of the Tender Offer confirms that the shares validly tendered and not properly withdrawn in the Tender Offer represent, together with shares otherwise acquired by the Offeror, more than fifty percent (50%) of the issued and outstanding shares and votes in Neles, and provided that all other conditions to completion of the Tender Offer continue to be fulfilled or are waived on the date of the announcement of the final result of the Tender Offer, the Offeror will complete the Tender Offer in accordance with its terms and conditions. The Offeror may acquire shares in Neles also in public trading on Nasdaq Helsinki Ltd or otherwise outside the Tender Offer on or after the date of this stock exchange release.
Contact:
Johan Lundin
Tel: +46730463090
Email: johan.lundin@alfalaval.com
About Alfa Laval
Alfa Laval is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress - always going the extra mile to support customers in achieving their business goals and sustainability targets.
Alfa Laval's innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day. It's all about Advancing better.
Alfa Laval has 17,500 employees. Annual sales in 2019 were SEK 46.5 billion (approx. EUR 4.4 billion). The company is listed on Nasdaq OMX.
Alfa Laval's key financials are summarised below.
ALFA LAVAL AB 
