Superior bid for Uniwheels is final. No more dividends
23:23
Superior Industries said it won't raise its offer for German WSE-listed alloy wheels producer Uniwheels shares. The current and final offer stands at PLN 236.07 per share. “We think it's a fair price,” Superior CEO Donald J. Stebbins said.
After agreeing to buy 61.29 percent of Uniwheels shares from its owner, Superior announced the tender to buy back the remaining 4.8 million shares in free float. The company announced that the offer will be valid if at least 75 percent of Uniwheels shares are tendered
The company also announced that it won't be paying out future dividends from Uniwheel if it acquires it. “We will concentrate on debt repayment and investments. After announcing the tender offer we also said that Superior's own dividend would be halved,” Stebbins said.
