TE Connectivity Ltd. and Schaffner Holding AG announced on August 17, 2023, that TE will launch an all cash public tender offer for all publicly held registered shares of Schaffner for CHF 505 per share (the "Offer").
The Board of Directors of Schaffner unanimously recommends the shareholders to accept the Offer. As of today, in addition to Schaffner’s largest shareholder BURU Holding owning ca. 17.2% in Schaffner, four additional private and institutional shareholders owning ca. 20.3% in Schaffner have entered into an undertaking to tender all of their shares in Schaffner into the Offer.
The tender offer is subject to customary terms and conditions as well as regulatory approvals and is currently expected to be settled in December 2023.