Date: Mon, 30 Apr 2007 09:34:30 +0200
Porsche submits mandatory offer for Volkswagen shares
Stuttgart. Dr. Ing. h.c. F. Porsche AG, Stuttgart, Germany, submitted it's
mandatory offer to acquire shares of Volkswagen AG, Wolfsburg, Germany, on
this Monday after the offer documentation was officially approved by the
Federal Agency for Financial Services Supervision (BaFin) for publication.
The acceptance period is limited to approximately four weeks and ends on
May 29, 2007. The price offered to the Volkswagen shareholders amounts to
E100.92 per common share and E65.54 per preferred share, which represents
the minimum price required by law.
Porsche does not consider a premium on the minimum price to be appropriate,
as the price of Volkswagen shares has risen significantly since the
Stuttgart-based sports car manufacturer took an interest in the company.
The mandatory offer, which is not conditional upon attainment of a minimum
acceptance level, can be found on and downloaded from the Porsche website
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