TE Connectivity Sensors is making a voluntary public tender offer for all outstanding shares of First Sensor AG. Both companies have also entered into a business combination agreement which outlines the key parameters that will facilitate the combination of both companies. The management board and supervisory board of First Sensor welcome and, subject to a review of the offer document, support the offer. Additionally, shareholders representing approximately 67% of the outstanding shares have already agreed to irrevocably tender their shares into the offer.
The acquisition of First Sensor will expand TE’s global leadership in highly engineered sensors, particularly in industrial, medical and transportation applications. Upon completion, the transaction would bring together First Sensor’s solutions, including low-pressure sensing and photonics, with TE’s operational scale, customer base and existing sensors technologies into a more comprehensive global sensing solutions offering for customers. Additional public details and documents concerning this transaction are available for viewing.