KNOC responded this morning by re-stating its intention is not to raise its offer for Dana and the company does not believe that the defence document released any further information that impacted on the Korean company’s view on the value of the acquisition. In accordance with the withholding of a recommendation by the board of Dana, KNOC waives its right to increase an offer with such a recommendation or in light of material new information after the date specified by the Takeover Code. It reserves to increase its offer price under the circumstance that a rival bid should emerge.
On Tuesday the EC Phase I Deadline for the SSL/ Reckitt Benckiser deal was announced as set as the 11 October.
The board of Munters responded by announcing that they were evaluating the offer and would publish a full response within the following two weeks.
For the purpose of providing additional information in relation to the offer by Alfa Laval Corporation Munters disclosed an increase in orders taken in June, July and August. The Year on year increases ranged from 18%-25%.
