As of 26 September 2013 Endress+Hauser holds 47.33 percent of shares in German-based Analytik Jena AG, 22.99 percent directly and 24.34 percent indirectly. Accordingly, the Group is preparing a mandatory offer to the company's shareholders.
Following last Thursday's clearance from the German Federal Cartel Office, Endress+Hauser (Deutschland) AG+Co. KG is able to acquire the shares originally held by the Netherlands-based Verder Group, along with unsubscribed shares from the recent increase of capital stock. "Accordingly, we yesterday published the fact of having gained control over Analytik Jena, together with our decision to issue a mandatory offer," stated Dr Heiner Zehntner of the Endress+Hauser Group's Executive Board.
The offer price of 13.75 euros per share lies above prices paid by Endress+Hauser for stakes in Analytik Jena during the period leading up to the offer. "We consider this to be a fair and just offer in light of the company's present position and future prospects," added Dr Luc Schultheiss, CFO of the Endress+Hauser Group.
The government of Thuringia, a German federal state, and Klaus Berka, founder and CEO of Analytik Jena, both welcomed Endress+Hauser's increased holding. The Free State of Thuringia currently owns 17.79 percent of Analytik Jena via a fund managed by bm-t, an investment company; Klaus Berka holds 9.93 percent of the company. At a later date both shareholders will negotiate on selling their respective tranches. Discussion will focus on the company's future direction and its integration with the Endress+Hauser Group.
Klaus Berka signalized his desire for involvement with this process, subject to extension of his contract by the supervisory board of Analytik Jena. "We are pleased that Mr Berka has agreed to stay on as CEO and continue running the company after its acquisition by Endress+Hauser," stated Klaus Endress, CEO of the Endress+Hauser Group.
Analytik Jena to remain independent:
Endress+Hauser is expressly committed to the Jena location. "We want Analytik Jena to remain an independent company," emphasized Klaus Endress. Already a leading provider of process instrumentation, with this acquisition the family-owned business aims to develop a presence in laboratory analysis, too. Analytik Jena is active in classical analytical instrumentation as well as in biotechnology and molecular diagnostics.
Endress+Hauser will be strengthening and extending Analytik Jena's worldwide sales to the laboratory sector. Klaus Endress also sees promising potential applications for laboratory instrumentation technology in process instrumentation, and vice versa. "Looking ahead, we will be present with our instrumentation from laboratories, through pilot plants, to industrial production," said the Group's CEO. "Both companies stand to profit from this."