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Tennessee Acquisition B.V. and TenCate issued a joint press release in respect of the intended recommended public cash offer for all issued and outstanding ordinary shares in the capital of TenCate at an offer price of € 24.60 for each TenCate share, subject to customary conditions.
Pursuant to the provisions of section 7, paragraph 1 sub a of the Netherlands decree on public takeover bids (Besluit openbare biedingen Wft) which require a public announcement containing a status update within four weeks following the announcement of an intended public offer, the offeror and TenCate provide the following joint status update.The offeror and TenCate confirm that they are making timely progress on the preparations for the offer. The offeror expects to submit a request for review and approval of the offer memorandum with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, "AFM") shortly. The offeror will publicly announce the availability of the offer memorandum and commencement of the offer period. As communicated before, the offer is expected to commence in September or October 2015.More information: www.tencate.com