Very nice,
For more than two months, with the share of IT specialists S & T is all about the possible takeover bid by U.S. investment vehicle Cloudeeva . The circumstances were not necessarily so that all investors have erupted into cheers storms. To this day, is ultimately not entirely clear how serious are the intentions of the American investors . And so it is hardly surprising that the note of Linz - apart from a brief phase of initial euphoria - Resistant listed below the negotiated price as a minimum 3 euros . Boersengefluester.de spoke with S & T CEO Hannes Niederhauser about the current state of affairs , his intentions , the plans of the Americans, who announced dividend and the Mittelstandsbond of S & T.
Mr. Niederhauser , there was quite a last radio silence regarding the possible acquisition by Cloudeeva . What is the current status?
Hannes Niederhauser: In the autumn of last year is Adesh Tyagin , a former fund manager approached us and has shown interest in S & T . His plan : With the vehicle Cloudeeva he wants to invest money in the IT industry and merge multiple companies. In the interest of all shareholders, we have 22 November 2013 entered into a Letter of Intent with the Americans. So we have given them insight into our books. In return, a minimum price of 3 euros per S & T share certificate has been set plus the earnings per share for 2013 in the letter of intent . Thus, it could come down to a price of around 3.30 euros .
What happened next ?
The accounting firm Ernst & Young and the law firm CMS Hasche Sigle were charged with due diligence. Originally the audit on 13 should Be completed by January 2014. On 9 January took us Adesh Tyagin informed that he will probably cover three or four days. This time we have granted to the buyers - accordingly , the end of the due diligence has been delayed to the rear.
And the result of the audit ?
Cloudeeva has informed us that due diligence in their view, was positive and they want to lead the process further . For details of the appraisal report , I can not say anything . I myself did not get the document to face.
According to official figures Cloudeeva makes the acquisition of S & T still on the completion of " certain documents " dependent. What does that mean?
The course sounds a bit cryptic . However, one must bear in mind that even Adesh Tyagin financed by investors and he must be back with donors that feed his Fund , discuss the results . The Letter of Intent provides them exclusivity until 20 February 2014 to . If Cloudeeva come to the conclusion that they wish to make a takeover bid for S & T, the Company would inform us by that date formally about it
