This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Sauer-Danfoss Inc. Special Committee Announces Retention Of Financial Advisor And Legal Counsel

AMES, Iowa, Dec. 19, 2012 /PRNewswire/ -- The Special Committee of the Board of Directors of Sauer-Danfoss Inc. ("Sauer-Danfoss") (NYSE: SHS) announced today that it has retained Lazard as the Special Committee's independent financial advisor and Kirkland & Ellis LLP as its independent legal counsel.  As Sauer-Danfoss previously announced, on November 28, 2012 the Board of Directors formed a Special Committee of independent directors to consider, among other things, the proposal made on that date by Danfoss A/S ("Danfoss"), a beneficial owner of approximately 75.6% of Sauer-Danfoss' outstanding common stock, to purchase all of the outstanding shares of common stock of Sauer-Danfoss not owned by Danfoss for a cash purchase price of $49.00 per share.

The Special Committee cautions Sauer-Danfoss' stockholders and others considering trading in its securities that no decisions have been made by the Special Committee or the Board of Directors with respect to Danfoss' proposal. There can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated.  The Special Committee does not intend to disclose developments regarding these matters until it has determined that there is a need, if any, to update the market.

Notice to Investors No statement in this press release is an offer to purchase or a solicitation of an offer to sell securities.  If Danfoss commences a tender offer for Sauer-Danfoss, it will file a tender offer statement on Schedule TO with the Securities and Exchange Commission ("SEC") and Sauer-Danfoss will file a solicitation/recommendation statement on Schedule 14D-9 with respect to such tender offer.  Investors and security holders are urged to read all filings regarding the proposed transaction, if and when the transaction proceeds and such filings are made, because they will contain important information that should be read carefully before any decision is made with respect to the tender offer or the securities of Sauer-Danfoss.  Such materials will be made available to Sauer-Danfoss' stockholders at no expense to them.  In addition, such materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC's web site: www.sec.gov.

About Sauer-Danfoss Sauer-Danfoss Inc. is a worldwide leader in the design, manufacture, and sale of engineered hydraulic and electronic systems and components for use primarily in applications of mobile equipment.  Sauer-Danfoss, with 2011 revenues of approximately $2.1 billion, has sales, manufacturing, and engineering capabilities in Europe, the Americas, and the Asia-Pacific region. 

More details online at www.sauer-danfoss.com.

Safe Harbor Disclosure Certain statements contained herein may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the activities of the Special Committee and possible business transactions.  Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as "will," "expect," "estimate," "anticipate," "forecast," "plan," "believe" and similar terms.  Although Sauer-Danfoss believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially.  Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally, general economic conditions, regulatory changes, fluctuations in Sauer-Danfoss' stock price, Sauer-Danfoss' financial performance, the timing and possible action by the Special Committee and the Board of Directors regarding Danfoss' proposal, and possible actions by Danfoss and other parties.

Sauer-Danfoss undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  The foregoing review of factors that could cause Sauer-Danfoss' actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect Sauer-Danfoss' future results included in Sauer-Danfoss' filings with the SEC at www.sec.gov.



Stock quotes in this article: SHS 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs