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New York, NY -- (SBWIRE) -- 03/01/2013 -- Sauer-Danfoss Inc. (NYSE:SHS) announced a definitive merger agreement for Danfoss to acquire the 24.4% of Sauer-Danfoss common shares not already owned by Danfoss and affiliates for $58.50 per share in cash. Under the terms of the agreement, Danfoss will commence a tender offer at $58.50 per Sauer-Danfoss share within 10 business days. If, following the tender offer, Danfoss owns at least 90% of the outstanding shares as a result of current shareholdings, shares tendered in the tender offer and the issuance of new shares by Sauer-Danfoss pursuant to a top up provision in the merger agreement between the parties that would go into effect only following a tender offer, Danfoss intends to cause Sauer-Danfoss to enter into a short-form merger as soon as reasonably practicable thereafter in which shares not tendered in the tender offer would be converted into the right to receive $58.50 per share in cash without interest.
The transaction is expected to close in the second quarter of 2013. Citi is serving as financial advisor to Danfoss and Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel. Lazard is serving as financial advisor to the Special Committee of the Board of Directors of Sauer-Danfoss and Kirkland & Ellis LLP is serving as legal counsel.
How Should Investors React To SHS Now? Find Out Here
Himax Technologies, Inc. (ADR)(NASDAQ:HIMX) added 0.60% and is trading at $3.04. Himax Technologies, Inc. operates as an IC design house with LCD manufacturing capability. The Company focuses on display IC products for display device and offers LCD technical consulting to customers to provide them with value-added technical support and integrated solutions.
How Should Investors Trade HIMX After The Recent Movement? Find Out Here
Sinclair Broadcast Group (NASDAQ:SBGI) announced Feb. 28 that it will buy the broadcast assets of 18 television stations owned by Barrington Broadcasting Group for $370 million and operate or provide sales services to another six stations.
The 24 stations are located in 15 markets and reach 3.4 percent of U.S. TV households. The deal, subject to FCC approval, is expected to close in the second quarter of the year. According to a Sinclair press announcement, the broadcaster anticipates financing the transaction with a bank loan or via the capital markets, less $20 million in deposits.
Should A Trader Buy Or Sell SBGI Now : CHECK HERE
Salesforce.com inc. (NYSE:CRM) reported fourth quarter non-GAAP net income of $0.51 per share after the close Thursday, up from $0.43 per share in the prior year period. The consensus estimate was for EPS of $0.40. The company expects to report first quarter non-GAAP EPS of $0.40 to $0.42 and between $1.93 and $1.97 for the full year 2014. The consensus estimates are for EPS of $0.42 and $1.95.
salesforce.com gapped open higher Friday, but pulled back in early trade. The stock has since climbed steadily to the upside and is now up 11.13 at $180.35. salesforce.com has broken out of a 2 1/2 month range and has set a new high for the year.
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