Business News
Kyocera makes takeover bid for Germany's Triumph-Adler
Nov 18, 2008, 7:48 GMT
Nuremberg, Germany - Japan's Kyocera Mita Corporation announced takeover plans Tuesday for the German office services company Triumph-Adler AG.
The Osaka-based company said it would submit an offer of 1.90 euros (2.40 dollars) per share in order to secure around 60-75 per cent of the German firm's share capital.
Kyocera Mita already has a 29.9-per-cent stake in Triumph-Adler AG, the announcement said, adding that Triumph-Adler would remain a listed company.
The German firm said its board of management 'adopts an essentially positive stance' to the plans, since they promise 'advantages for the staff members, shareholders and customers of the TA Triumph-Adler Group.'
Triumph-Adler said the move unlocks considerable opportunities for expansion for both sides in terms of operating activities in Germany, Austria, the Czech Republic and Switzerland.
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