Schaeffler AG's Public Tender Offer to Propel Vitesco into Leading Motion Tech Firm

• Schaeffler AG is launching a public tender offer for all outstanding shares of Vitesco Technologies Group AG to create a leading Motion Technology Company.
• The offer price of 91 euros per share represents a premium of around 20 percent on the 3-month volume-weighted average share price.
• The transaction is a three-step process leading to the merger of Vitesco into Schaeffler, resulting in a simplified shareholding structure post-transaction.
• The merger aims to leverage growth opportunities in e-mobility through complementary technology portfolios, with a potential revenue and cost synergy of 600 million euros per annum by 2029.
• The tender offer is not subject to a minimum acceptance threshold, but to other customary conditions, including the receipt of potentially applicable foreign direct investment approvals.
• Schaeffler has no plans for a delisting or a squeeze-out of the remaining Vitesco shareholders following the closing of the tender offer.

The next important date, Publication of quarterly report (as of Q3), at Schaeffler is on 08.11.2023.
At this time, the index SDAX was at 12.695,57PKT (+1,02 %).