TE Connectivity announces public tender offer for Schaffner shares - Seite 2

The Board of Directors of Schaffner unanimously recommends the shareholders to accept the Offer. Additionally, Schaffner’s largest shareholder BURU Holding owning ca. 17.2% in Schaffner, fully supports the offer and has entered into an undertaking to tender all of its shares in Schaffner into the Offer.

The acquisition of Schaffner will add a market-leading EMC (electromagnetic compatibility) filter product offering to TE’s broad connectivity and sensing portfolio. "EMC filters represent an essential component technology in many of our fast-growing applications, such as motion control, robotics, industrial machinery, medical equipment and e-mobility. Combining TE’s portfolio breadth and global customer reach with Schaffner’s product portfolio, engineering expertise and manufacturing capabilities will strengthen the value proposition to our customers," said Vish Ananthan, senior vice president and general manager of TE’s Industrial business unit. "The Schaffner team has built a strong company with a great reputation for customer intimacy and innovation. We look forward to welcoming the team to TE and combining strengths to accelerate product innovation and deliver global supply chain resilience that our customers expect from their strategic suppliers."

"The agreement announced today marks a new chapter for Schaffner," said Marc Aeschlimann, chief executive officer of Schaffner. "The business is well positioned to build on its market-leading position and grow further by leveraging TE’s global presence and scale, customer reach across multiple market segments, and manufacturing and logistics capabilities."

Markus Heusser, chairman of Schaffner’s Board of Directors added, "With TE as a strategic partner, the Schaffner business continues to have an investor with long-term perspective that values innovation. We expect to leverage TE’s leading position and customer access in several market segments that are Schaffner’s focus growth areas. I am confident of TE’s ability to support the Schaffner business and the team to capitalize on our full potential."