Boskalis has made a public cash offer for all the issued and outstanding ordinary shares of Smit with a nominal value of EUR 2.30 each. The offer price is EUR 60 per share.
The offer is a public offer in cash for all the issued and outstanding ordinary shares of Smit at an offer price of EUR 60 per share, excluding an interim dividend of EUR 2.75 over the year 2009.
Together with the shares currently held by Boskalis, approximately 43% of the shares are already committed to the offer.
Offer Recommended by Management
The Management Board and the majority of the Supervisory Board recommend the offer to the shareholders for acceptance.
Works Councils
The relevant and applicable employee consultation procedures have been completed. The works councils of both Boskalis and Smit have given a positive advice on all aspects of the transaction.
Offer Period
The offer period commenced on 25 February 2010 at 09.00 hours, Amsterdam time, and ends on 26 March 2010 at 18.00 hours, Amsterdam time, unless extended. The Offer will be declared unconditional subject to the fulfillment of the offer conditions, including, but not limited to, an acceptance condition of more than 75%
