Exide Technologies fka EXTC

[BaGr]

Exide Technologies D E Shaw Galvanic Portfolios Bought New Stake

05/11/2015 BY OCTASTAFF IN SEC 13G & 13D FILINGS
D. E. Shaw Galvanic Portfolios. New Position in Exide Technologies

D. E. Shaw Galvanic Portfolios. has filled a SC 13D form regarding Exide Technologies . Per D. E. Shaw Galvanic Portfolios.’s filing, the filler now owns 36.6% of the company, holding 4,173,617 shares.

Exide Technologies is a newly disclosed equity position and the filing was required due to activity on April 30, 2015. This most probably shows D. E. Shaw Galvanic Portfolios.’s confidence and optimism in the future of the company.
Why D. E. Shaw Galvanic Portfolios. Bought Exide Technologies

Item 4. Purpose of Transaction

TheReporting Persons acquired the Subject Shares for investment purposes in the ordinary course of business. Currently, the ReportingPersons are party to the Stockholders Agreement (see Item 6 below). As a result, the Reporting Persons may be deemedto beneficially own the securities of other parties to the Stockholders Agreement.

TheReporting Persons intend to regularly review their investment in the Issuer. Basedon such review, as well as other factors (including, among other things, their evaluation of the Issuer’sbusiness, prospects and financial condition, the market price for the Issuer’s securities, other opportunities availableto them, and general market, industry, and economic conditions), the Reporting Persons, and/or other persons affiliated with them,may, and reserve the right to, engage in discussions with management and the board of directors of the Issuer(the “Board of Directors”) and other holders of the Shares, concerning the business (including, without limitation,the Issuer’s assets and capital structure) and the future plans of the Issuer,and with regard to strategies and potential transactions to maximize shareholder value, change their intentions, acquire additionalsecurities of the Issuer, or sell some or all of their Subject Shares, on the openmarket, in privately negotiated transactions, or otherwise.

TheReporting Persons may formulate plans or proposals for, and may from time to time explore, or make proposals relating to, transactionsor actions which relate to or would result in any of the matters specified in clauses (a)through (j)of Item4of Schedule 13D, and the exercise of such Reporting Persons’ rights under the Stockholders Agreement may result in (a) theacquisition or disposition of securities of the Issuer as a result of customary tag-along and drag-along provisions (see Item 6below), (d) a change in the present Board of Directors pursuant to provisions relating to the designation of members of the Boardof Directors (see Item 6 below), and (g)actions that impede the acquisition of control of the Issuer by any person due tothe various limitations on actions by the parties to the Stockholder Agreement with respect to their Shares.

On May1, 2015, the Issuer filed a Form 15 for the deregistration of the Shares under the Exchange Act. Such deregistration will takeeffect on July 30, 2015.

Company Profile

Exide Technologies is engaged in stored electrical energy solutions, and is a manufacturer and supplier of lead-acid batteries for transportation and industrial applications across the world. Exide operates in four business segments: Transportation Americas, Transportation Europe and ROW, Industrial Energy Americas, and Industrial Energy Europe and ROW. The Company’s transportation batteries include starting lighting and ignition (SLI) batteries for cars, trucks, off-road vehicles, agricultural and construction vehicles, motorcycles, recreational vehicles, marine and other applications including Micro-hybrids. The Company’s Industrial Energy segments supply both motive power and network power applications. Motive power batteries are used in the material handling industry for electric forklift trucks, and in other industries, including floor cleaning machinery, powered wheelchairs, railroad locomotives, mining, and the electric road vehicles market.

Form 13D is SEC filing that must be submitted within 10 days, by anyone who acquires beneficial ownership of more than 5% of any publicly traded securities. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing. These filings may be a precursor to hostile takeovers, company breakups, and other “change of control” events.

Tagged: Exide Technologies


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