LONDON (dpa-AFX) - The boards of ZF Friedrichshafen AG and Hansen Transmissions International NV (HSN.L) entered into an agreement on the terms of a recommended cash offer to be made by ZF International BV, a wholly owned unit of ZF for the entire issued and to be issued share capital of Hansen including outstanding rights under the Hansen Warrant Plans.
The offer would be 66 pence in cash for each Hansen Share and values the entire issued and to be issued share capital of Hansen, including outstanding rights under the Hansen Warrant Plans, at around 444.8 million pounds. The Offer represents a premium of around 95.6 percent over the closing price of 33.75 pence per Hansen Share on 22 July 2011, the company added.
ZF believes that a combination of Hansen and ZF's worldwide platform, substantial manufacturing and engineering expertise and strong research and development capability will help create a leading player in the global wind turbine gearbox market.
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