SOUTHFIELD, Mich.--(BUSINESS WIRE)--In connection with the tender offer for 100 percent of its shares by Superior Industries International, Inc., the Executive Board of UNIWHEELS AG released today a Reasoned Statement following its receipt of a Fairness Opinion completed by Ludwig & Co. In this statement, the Executive Board recommends the Company’s shareholders accept the Tender Offer by Superior Industries. The Reasoned Statement also states the following:
- “The price per share proposed in the Tender Offer is adequate from a financial perspective.”
- “The tender offer is in the Company's best interest, and that, based on the Executive Board’s knowledge of the Tender Offer and the transaction, the Executive Board expects the Tender Offer to have a positive impact on the Company’s employees and their employment conditions.”
- “The successful closing of the Tender Offer would lead to the creation of one of the largest global providers of aluminum wheels for the automotive OEM market with a diversified customer base and geographic reach.”
This tender offer was commenced in connection with an agreement by the owner of approximately 61% of the outstanding UNIWHEELS AG shares, UNIWHEELS Holdings (Malta) Ltd., which has irrevocably agreed to tender its shares.
About Superior Industries
Headquartered in Southfield, Michigan, Superior is the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America. From its plants in the U.S. and Mexico, the company supplies aluminum wheels to the original equipment market. Major customers include BMW, FCA, Ford, General Motors, Mazda, Nissan, Subaru, Tesla, Toyota and Volkswagen. Superior is listed on the New York Stock Exchange and is a component of Standard & Poor’s Small Cap 600 and Russell 2000 Indices. For more information, visit www.supind.com.