Oxford Automotive ApS to Combine with Wagon PLC.PARIS Paris, in Greek mythology
Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Oxford Automotive ApS (OXAU--Bulletin Board) has signed a definitive agreement to combine with Wagon plc (WAGN--LSE). The combination will be accomplished by the exchange of the outstanding Oxford shares for a total of up to 62.15 million Wagon common shares, representing 53.1% of the combined company's fully diluted common stock (assuming the exercise of outstanding Wagon stock options and that Wagon's outstanding convertible preference shares are not converted). Each share of Oxford will be exchanged for 0.072638 shares of Wagon. The combined company would have pro-forma revenues in excess of EUR EUR
In currencies, this is the abbreviation for the Euro.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.2 billion from sales of engineered structures, mechanisms and glazing and shading systems to major European automotive OEMs, including Renault, Peugeot SA and Daimler Chrysler. Wilbur L. Ross, Herve Guillaume, Rolf Zimmermann and Sarkis Kalyandjian, current Oxford directors, will join the Board of Directors of the combined company.
Herve Guillaume, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Oxford, said, "The combined company will be one of the largest European manufacturers of engineered structures and will have a broad base of technical skills, equipment and manufacturing locations. Wilbur Ross Wilbur L. Ross, Jr. is an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications. foreign investment and textiles. He specializes in leveraged buyouts. , the leading shareholder and a director of Oxford, added, "We expect the enlarged group to be among the five largest in the European industry. This transaction is therefore another important step toward the consolidation of the auto supply industry and yet leaves further room for both internal growth and the potential for future acquisitions following integration of the two businesses."
The closing of the transaction is subject to shareholder approvals and other customary conditions. WL Ross & Co., the New York-based private investment firm, and other U.S. institutions owning over 75% of Oxford's stock have already agreed to support the transaction. The combined company's shares will be listed and traded on the London Stock Exchange London Stock Exchange
London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the symbol "WAGN WAGN West Anglia and Great Northern railway (UK) ."
Wagon's shareholders are expected to vote on the transaction in early April and the transaction is expected to close shortly thereafter, assuming the receipt of regulatory clearances and other customary conditions.
Wagon's financial advisor in the transaction is Close Brothers, and its legal advisors are Allen & Overy. Oxford and W.L. Ross are represented in the transaction by Rothschild, Inc., financial advisor, and Jones Day, legal counsel.
Wagon is simultaneously publishing a prospectus and a shareholder circular relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc the transaction and the convening of Wagon's shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. . These documents are also being filed with the London Stock Exchange, posted on Wagon's web page and will be mailed to Oxford shareholders. Oxford shareholders are encouraged to review these materials to obtain a complete understanding of the proposed combination.
Oxford is a supplier to the European automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. of modular automotive body structures and mechanisms with strong capabilities in large stampings, welding, coating, fine blanking Fine blanking is a fully automated precision metalworking stamping process.
There are a number of advantages to fine blanking over conventional metal stamping, with the most important one being that fine blanking provides completely consistent dimensional control. and mechanisms. Oxford is a Danish private limited company which was formed for the purpose of acting as the holding company for the European assets of Oxford Automotive, Inc. Oxford is registered in Denmark and has its administrative office in France, with nine operating facilities located in France, Germany and Turkey.
This press release and the information contained herein do not constitute an offer of securities for sale in the United States and the securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Wagon does not intend to register the offering of securities referred to herein under the Securities Act.