Sauer-Danfoss Inc. on Friday said a special committee of its Board of Directors recommended that the company's shareholders accept a cash tender offer of $13.25 per share from its parent company, Danfoss A/S. Sauer Danfoss Inc. trades on the “New York Stock Exchange” under the stock symbol “SHS”. For More information regarding “SHS”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Sauer-Danfoss Inc.(NYSE:SHS) on Friday said a special committee of its board of directors recommended that the company's shareholders accept a cash tender offer of $13.25 per share from its parent company, Danfoss A/S. Danfoss currently owns 75.7 percent of Sauer-Danfoss shares and it is seeking to obtain the remaining 24.3 percent. Danfoss recently raised its bid for Sauer-Danfoss from its initial offer of $10.10 per share announced on Dec. 22.
About Sauer-Danfoss Inc:
Sauer-Danfoss Inc. designs, manufactures, and markets hydraulic, electronic, electric, and mechanical components, as well as software and integrated systems that generate, transmit, and control power in mobile equipment. The company’s products include closed circuit axial and bent axis piston hydrostatic transmissions; open circuit piston pumps used to transform mechanical power from the engine to hydraulic power for various functions of the vehicle; open circuit gear pumps and motors; geroller and gerotor motors used for propel and work functions; hydrostatic steering units; spool type control valves; and cartridge valves and hydraulic integrated circuits. It also engages in designing, manufacturing, and marketing electronic controls, including microprocessor-based controllers, intelligent displays, joysticks, and electronic sensors. In addition, the company develops and licenses software that helps its customers in integrating components into systems, and in developing their own solutions. Sauer-Danfoss Inc. sells its products directly or through distributors to original equipment manufacturers of mobile equipment, including construction, road building, agricultural, turf care, material handling, and specialty equipment primarily in the Americas, Europe, and the Asia-Pacific region. The company was founded in 1986 and is based in Ames, Iowa.
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