DGAP-News: First Sensor AG: Path free for combination with TE Connectivity
DGAP-News: First Sensor AG
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Path free for combination with TE Connectivity
"I am happy that we now have clarity and the path is free for the business combination agreed on in June 2019. This will allow us to accelerate our growth in a market environment that is increasingly competitive worldwide. We can benefit here from TE's technology and product leadership and its global reach in order to provide our customers with a more comprehensive range of products," says Dr. Dirk Rothweiler, who continues to be responsible for the business of First Sensor AG as CEO. "At the same time, we are incorporating innovative, market-leading technologies, sensors and sensor systems, which are largely complementary to TE Connectivity's existing product portfolio, and a profound understanding of applications to the joint business."
In preparation for the business combination, TE already announced on December 10, 2019, that it wishes to conclude a Domination and Profit and Loss Transfer Agreement. "The business combination with First Sensor is yet another milestone in TE Connectivity's commitment to being a leader in the sensor space and continuing to provide customers with a high level of product innovation and service," says John Mitchell, senior vice president and general manager of TE sensors business. "The First Sensor team's capabilities as well as their products, strongly align with the markets we serve and create greater opportunity to serve our customers."
About First Sensor AG
About TE Connectivity
All of the information herein has been prepared by First Sensor AG solely for use in this announcement. The information contained in this announcement has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information contained in this announcement should be considered in the context of the circumstances prevailing at that time and has not been, and will not be, updated to reflect material developments which may occur after the date of the announcement. First Sensor AG may alter, modify or otherwise change in any manner the content of this announcement, without obligation to notify any person of such revision or changes.
This announcement may contain certain forward-looking statements and forecasts which relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on the First Sensor AG's business, financial condition and results of operations. The terms "anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "will", "would" or, in each case, their negative, or other variations or comparable terminology are used to identify forward-looking statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied in a forward-looking statement or affect the extent to which a particular projection is realised. Factors that could cause these differences include, but are not limited to, implementation of the First Sensor AG's strategy and its ability to further grow, risks associated with the development and/or approval of the First Sensor AG's products, technology changes and new products in the First Sensor AG's potential market and industry, the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions and legislative, regulatory and political factors. While we always intend to express our best judgment when we make statements about what we believe will occur in the future, and although we base these statements on assumptions that we believe to be reasonable when made, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of our control and could cause our actual results to differ materially from those we thought would occur. The forward-looking statements included in this announcement are made only as of the date hereof. We do not undertake, and specifically decline, any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
12.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||First Sensor AG|
|Phone:||+49 (0)30 63 99 23-760|
|Fax:||+49 (0)30 63 99 23-719|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||995859|
|End of News||DGAP News Service|
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As a result the target price of €50.00 shows a positive potential of 23.153% compared to the current price of €40.60 for First Sensor AG.