Public Tender Offer for Winterthur Technologie AG, Zug

On December 5, 2010, Winterthur Technologie AG, Zug, and 3M (Schweiz) AG, Rüschlikon, entered into a transaction agreement in which 3M undertook to submit a public tender offer for all outstanding shares of Winterthur Technologie for a price of CHF 62 per share. Winterthur Technologie agreed to support and recommend the offer. The pre-announcement of the offer was published on December 6, 2010. The transaction which values Winterthur Technologie at an enterprise value of CHF 416 million is subject to customary conditions and is expected to be closed in the first quarter 2011.

Lenz & Staehelin advises Winterthur Technologie in this transaction. The team includes Hans-Jakob Diem, Tino Gaberthüel, Simone Ehrsam (all Corporate) and Judith Bischof (Antitrust).