Faurecia, with its wholly owned subsidiary Faurecia Participations GmbH as bidding entity, has published the offer document for its voluntary public takeover offer in cash for all outstanding shares of Hella, a major automotive player in lighting and electronics based in Lippstadt, Germany.
The offer price is €60 (approximately $70 USD) per share in cash. This represents a total consideration of €60.96 (including the expected dividend of €0.96 to be paid by Hella to Hella shareholders pre-closing), which corresponds to an attractive premium of 33% vs. the latest unaffected1 share price of €45.8 (approximately $54 USD). The first offer period ended on Oct. 25. A second offer period should commence on Oct. 29, and end on Nov. 11. During these periods, Hella shareholders have the opportunity to accept the offer and tender their shares.
According to Faurecia combination of the two companies will create the seventh largest global automotive supplier, focused on four growth areas, fully aligned with industry megatrends:
- Electric Mobility (incl. hydrogen solutions),
- ADAS & Automous Driving,
- Cockpit of the Future, and
- Lifecycle Value Management.
