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ITT Industries Formally Launches Public Offer for WEDECO AG Water Technology; * ITT Industries offers euro 18 per WEDECO share in cash, representing a premium of 36% over the three-month average Xetra closing share price prior to the date of announcement.

Publication: PR Newswire
Publication Date: 09-DEC-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
- Following the signing of a definitive business combination agreement, ITT Industries, through ITT Industries German Holding GmbH, a fully-owned subsidiary of ITT Industries, Inc. , today launched its previously-announced public offer for the acquisition of WEDECO Aktiengesellschaft Water Technology (TecDax: WDO), under which WEDECO shareholders will receive euro 18 per WEDECO share in cash. This offer price represents a 36 percent premium over the three-month average Xetra closing share price of euro 13.22 prior to the initial announcement on November 11, 2003.

Effective today WEDECO shareholders can tender their shares into the offer. The regular offer period is...

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