The Japanese firm said in an announcement dated 31 March 2015: "Conditional upon the approvals of the antitrust law and anti-competition law authorities, the settlement of the tender offer will occur, causing AG [DMG Mori Seiki AG] to become one of the Company's [DMG Mori Seiki Co] consolidated companies."
DMG Mori Seiki's actual shareholding now stands at 50.81%, or 50% plus one share. The cost to acquire those shares at €30/share has been put previously by DMG Mori Seiki Co at €272 million.
This result has triggered an additional tender offer period that commenced on 31 March 2015 and will last until 13 April 2015, with the results of that to be announced on 16 April 2015.
The two companies started to co-operate in 2009 as Mori Seiki Co and Gildemeister AG, with a cross-shareholding of 5% established by each at that time. The two sell globally through the DMG Mori Seiki network of operations that are also jointly owned.
Estimated turnover for DMG Mori Seiki AG is €2.2 billion for 2014, with DMG Mori Seiki Co's estimated figure for its 2014/15 year put at €1.35 billion. Once consolidated into a single reporting organisation, these combined figures would appear to make the company the largest machine tool maker in the world, according to The Machine Tool Scoreboard, published by Gardner Business Media, nudging Germany's Trumpf off the top spot (€3.25 billion for 2013/14).
