Recommended takeover bid by Johnson Electric in Saia-Burgess of CHF 695.9m
Swiss Capital Group advised Saia-Burgess
Recommended takeover bid by Johnson Electric in Saia-Burgess of CHF 695.9m
Sector(s) : Industry and automotive
Date : November 2005
Advisor(s) : Swiss Capital
Advised : Sell Side
Mid-Capital partner Swiss Capital Group advised Saia-Burgess
Johnson Electric Holdings Ltd, the Hong Kong-based industrial electronics manufacturer, made a recommended public counter offer to acquire Saia-Burgess for CHF 1’060 (EUR 682.94) cash per share. The offer represented a premium of approximately 11.6% over Sumida’s of CHF 950 and a premium of 41.3% compared to the average price of the last 30 trading days prior to Sumida’s hostile offer.
Saia-Burgess is a Swiss manufacturer of switches, actuators, electronic products and electronic controllers for the automotive as well as infrastructure automation industry with a turnover of CHF 570m (EUR 370m) in 2004 and approx. 3’700 employees.
Johnson Electric is one of the world's largest providers of micro motors and integrated motor systems to global customers in the automotive, power tools, home appliances, business equipment, audio-visual and personal care sectors. The group is headquartered in Hong Kong, employs over 32,000 people in 14 countries worldwide and achieved a turnover of USD 1’144m in the business year ending 31 March 2005.
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