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DMG MORI SEIKI completes the merger control side of large transaction with CMS


Stuttgart – The increase of the shareholding in DMG MORI AKTIENGESELLSCHAFT, Bielefeld (formerly GILDEMEISTER AG), by the Japanese machine tools manufacturer DMG MORI SEIKI CO., LTD. to 52.54% has been cleared by the respective merger control authorities. At the beginning of the year, DMG MORI SEIKI CO., LTD., located in Yamato-Koriyama, had successfully submitted a public tender offer to the shareholders of the German company. With a stated offer price of EUR 30.55 per share, the transaction had a maximum total value of more than EUR 1.5 billion. The transaction has thereupon been notified to the merger control authorities in seven countries – Germany, China, Japan, Austria, Russia, Turkiye and the USA. A team of CMS in Germany has been responsible for coordinating the merger control proceedings worldwide, in addition to representing the parties before the German Federal Cartel Office.

The respective merger control authorities approved the transaction between the beginning of February and the end of April 2015; all clearances were given within the first phase. Presumably, the approval received from the Chinese MOFCOM has been the fastest ever given by this merger control authority. MOFCOM reviewed the transaction under the simplified procedure which has only been in use since April 2014, and clearance was obtained in less than 30 days (phase 1) after receipt of the notification, namely in only 27 calendar days.

As a result of the transaction, the long-standing cooperation between both companies is further strengthened, creating one of the world’s leading enterprises in machine tools manufacturing and plant engineering. Today, DMG MORI SEIKI CO., LTD. has a leading role on the global market and generated revenues of more than EUR2 million. CMS has been advising DMG MORI SEIKI CO., LTD. in merger control matters for several years. In this public tender offer, CMS has also extensively advised the company in matters of M&A and financing.

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Dr Harald Kahlenberg, Lead Partner Antitrust
Lena Heim, Antitrust

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DMG MORI SEIKI completes the merger control side of large transaction with CMS
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Dr. Harald Kahlenberg
Dr. Lena Heim