Traton SE (XTRA:8TRA) made the offer to acquire remaining 5.6% stake in MAN SE (XTRA:MAN) for approximately 560 million on May 8, 2021. Traton SE made the offer to acquire common and preferred shares at 70.68 per share. The conclusion and notarization of the merger agreement between TRATON SE and MAN SE are to take place on May 14, 2021. Post completion, MAN SE will become wholly owned subsidiary of Traton SE. The effectiveness of the merger squeeze-out is still subject to the resolution by the Annual General Meeting of MAN SE and the registration of the transfer resolution and the merger in the commercial registers at the registered offices of TRATON SE and MAN SE. The shareholder's meeting of MAN SE is scheduled on June 29, 2021. As of June 29, 2021, the transaction has been approved by the shareholders of MAN SE. The squeeze-out must be entered in the relevant commercial register for the merger to take effect. All of MANs assets will be transferred to TRATON with the merger. MAN SE will cease to exist as an independent legal entity. Jochen Vetter, Oliver Rieckers, Petra Mennicke of Hengeler Mueller acted as legal advisors to MAN SE. Rick van Aerssen, Sabrina Kulenkamp, Kai Hasselbach, Elmar Schnitker, Martin Schiessl and Christian Decher of Freshfields Bruckhaus Deringer LLP acted as legal advisors to Traton SE.
Traton SE (XTRA:8TRA) completed the acquisition of remaining 5.6% stake in MAN SE (XTRA:MAN) on August 31, 2021.