TE News: TE announces final results of takeover offer for First Sensor AG

SCHAFFHAUSEN, Switzerland – Sept. 24, 2019 – TE Connectivity Sensors Germany Holding AG (TE Holding), a wholly owned subsidiary of TE Connectivity Ltd. (NYSE: TEL) (TE), a global industrial technology company with leading positions in connectivity and sensing solutions, today announced the final results for its voluntary public takeover offer for all shares of First Sensor AG (XTRA: SIS) (First Sensor), a provider of sensing solutions based in Germany (ISIN DE0007201907). The additional acceptance period expired on September 19, 2019. With the expiration of the additional acceptance period, no further First Sensor shares can be tendered into the takeover offer.

In total, TE has now secured 7,380,905 First Sensor shares, corresponding to approximately 71.87 percent of the total share capital and voting rights in First Sensor. The offer is supported by First Sensor’s management board and supervisory board.

Completion of the offer is still subject to foreign investment clearances in Germany and the United States. TE expects to complete this acquisition by mid-2020 at the latest.

Founded as a technology start-up in the early 1990s, today, First Sensor is a global player in sensor technology. Based on our know-how in chip design and production as well as microelectronic packaging, standard sensors and customer-specific sensor solutions are developed in the fields of photonics, pressure and advanced electronics for the ever-growing demand in key applications for the target markets of Industrial, Medical and Mobility. The strategy is aimed at profitable growth and focuses on key customers and products, forward integration and strengthening our international presence. First Sensor has been listed on the Frankfurt Stock Exchange since 1999.

This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of First Sensor AG (the "Company"). The definite terms and conditions of the public takeover offer, as well as further provisions concerning the public takeover offer, are published in the offer document, the publication of which has been permitted by the German Federal Financial Supervisory Authority (BaFin). Investors and holders of shares in the Company are strongly advised to read the offer document and all other relevant documents regarding the public takeover offer when they become available, since they will contain important information. The public takeover offer has been issued exclusively under the laws of the Federal Republic of Germany, in particular according to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz) and certain applicable provisions of U.S. securities law. Any contract that is concluded on the basis of the public takeover offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.

To the extent permissible under applicable law or regulation, TE Connectivity Sensors Germany Holding AG and its affiliates or brokers (acting as agents TE Connectivity Sensors Germany Holding AG or its affiliates, as applicable) may from time to time, during or after the period in which the public takeover offer remains open for acceptance, and other than pursuant to the public takeover offer, directly or indirectly purchase, or arrange to purchase, shares of the Company, that may be the subject of the public takeover offer, or any securities that are convertible into, exchangeable for or exercisable for shares of the Company. Any such purchases, or arrangements to purchase, will comply with all applicable German rules and regulations and Rule 14e-5 under the U.S. Securities Exchange Act to the extent applicable. Information about such purchases will be disclosed in Germany to the extent required by applicable law. To the extent information about such purchases or arrangements to purchase is made public in Germany, such information also will be deemed to be publicly disclosed in the United States. In addition, the financial advisors to TE Connectivity Sensors Germany Holding AG may also engage in ordinary course trading activities in securities of the Company, which may include purchases or arrangements to purchase such securities.

With respect to U.S. holders, please note that the public takeover offer is subject to disclosure and other procedural requirements, including with respect to the public takeover offer timetable, settlement procedures, withdrawal, waiver of conditions and timing of payments, that are different from those applicable under U.S. domestic tender offer procedures and laws. In addition, the receipt of cash pursuant to the public takeover offer by a U.S. holder of the Company’s shares may be a taxable transaction for U.S. federal income tax purposes and under applicable state and local, as well as foreign and other tax laws. Each holder of Company shares is urged to consult his independent professional advisor regarding the tax consequences of accepting the public takeover offer. Neither the U.S. Securities and Exchange Commission nor any securities commission of any state of the United States has (a) approved or disapproved the public takeover offer or (b) passed upon the merits or fairness of the public takeover offer. Any representation to the contrary is a criminal offence in the United States.