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In response to an inquiry, the Higher Regional Court of Frankfurt am Main today announced that the appeal lodged by a shareholder against the squeeze out process initiated by Schuler AG to acquire all shares in Mueller Weingarten has been withdrawn. The squeeze out order is thus final and absolute and all shares of Mueller Weingarten shareholders have been transferred to Schuler AG.
Schuler AG will pay the former shareholders of Mueller Weingarten AG a compensation amounting to EUR 15.74 per share. Trading of shares in Mueller Weingarten AG (previously at the Stuttgart and Munich stock exchanges ) will be suspended.
Schuler AG holds all shares in Mueller Weingarten
Schuler has thus completed the third stage of its integration concept for Mueller Weingarten on schedule. Following the acquisition of a majority shareholding in Mueller Weingarten in March 2007 and the purchase offer to the remaining shareholders, ownership of all shares in Mueller Weingarten has now been transferred in full to Schuler AG.
All stages of the integration plan are right on schedule
Juergen Tonn, CEO of Schuler AG, commented: We have thus fulfilled all legal prerequisites to fully combine the two companies and thereby strengthen our position on the global market. All stages of our integration plan are right on schedule. As previously announced, the business integration of Mueller Weingarten will be completed in the first quarter of 2008.
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