Adecco now having secured 34% in DIS AG altogether post purchase of additional stake in DIS exceeding 5%
Following Adecco's agreement with the Paulmann family to acquire all of their shares - equivalent to approximately 29% - in German listed DIS' share capital at a price of EUR 54.50 per share in cash, and the announcement on January 9, 2006 of its intention to launch a voluntary public tender offer for the remaining shares at the same price, Adecco has in the meantime purchased shares representing more than 5% over the last few days.
Jan 20, 2006
Accordingly, Adecco has now secured more than 34% of DIS' capital ahead of the formal launch of the public offer. The agreement with the Paulmann family is still subject to regulatory approval.
Adecco has filed the offer document with the Federal Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, 'BaFin') on January 17, 2006. The offer document will include full details of the offer and will be made publicly available post approval by BaFin. The offer is expected to be officially launched post the approval by BaFin at the beginning of February 2006 with the transaction closing expected for March 2006.