Wincor Nixdorf Investors Approve Takeover Offer from Diebold Inc.
Investors in German IT company Wincor Nixdorf have said yes to a Diebold Inc takeover offer, it has been confirmed.
Diebold Inc, an ATM maker based in North Canton, Ohio, USA, announced that investors in control of 68.9 per cent of the Wincor Nixdorf stock approved the offer. This went beyond the 67.6 per cent minimum threshold and satisfied minimum tender conditions. A news release from Diebold said that the offer was targeted for a summer closure, although regulatory approval is still required.
Additional Acceptance Period
The release said that 22,544,692 shares in Wincor Nixdorf had been tendered by the time the acceptance period ended. A further 262,279 voting proxies, which counted towards the acceptance threshold, were also issued to Diebold Inc. Shareholders who did not tender shares also have until midnight on April 12 to accept the offer and tender shares as part of an additional acceptance period, as dictated by the German Securities Acquisition and Takeover Act (WpÜG). Diebold will then announce the final number of shares tendered.
Diebold’s CEO and president, Andy W. Mattes, said that the company was excited to have completed the offer for outstanding Wincor Nixdorf shares. This, he said, would facilitate the continued creation of a services-led, truly global, software-enabled company, as envisioned by both Diebold and Wincor Nixdorf. Mattes said that a milestone had been achieved, and Diebold was now looking forward to the completion of the transaction and the integration of the two businesses once appropriate regulatory approvals were received.
Good for Business?
The takeover is being advertised as good for the businesses involved and for customers of both Wincor Nixdorf and Diebold Inc. Mattes said that customers had expressed a ‘very positive reaction’ to the news, believing that the combination of the two businesses will lead to customers enjoying unique added-value within the self-service industry.
Finance recruitment experts have been taking advantage of a new section on the Diebold website offering more information about the deal, and they are considering the effect the takeover is likely to have on current staff and future opportunities.
In words that would excite any headhunter looking to sell a role or would-be employees hoping to reap the rewards of an executive search, the website claims that the new deal marks the start of the future when it comes to money. It boldly states that Wincor Nixdorf and Diebold Inc hope to combine and shape the future in terms of both retail and banking solutions. These claims are likely to excite a huge spectrum of interested parties, ranging from finance recruitment experts and sector professionals to banking customers and retailers.
Mattes said that Diebold intended to make best use of talent and innovative solutions from both organisations. This will, he claimed, give the company the flexibility, strength and scale to facilitate successful expansion in key markets, including Europe, whilst helping customers to manage their own particular business transformations.