ATS Announces Successful Conclusion of Tender Offer for Acquisition of CFT
CAMBRIDGE, ON, March 12, 2021 /CNW/ - ATS Automation Tooling Systems Inc. (TSX:ATA) ("ATS" or the "Company"), an industry-leading automation solutions provider, today announced results for the voluntary public tender offer launched by ATS Automation Holdings Italy S.r.l., a limited liability company indirectly and wholly controlled by ATS, to acquire 100% of the outstanding shares and voting rights of CFT S.p.A (BIT:CFT) ("CFT"), an established global supplier to the food and beverage equipment market. The tender offer period expired on March 12, 2021. Subject to confirmation of final numbers by the applicable intermediary by March 18, 2021, approximately 17,995,381 shares, representing approximately 93.92 percent of CFT's outstanding shares, were validly tendered in the offer. All conditions of the tender offer having been satisfied, the shares submitted to the tender offer will be purchased prior to the end of March 2021, on the settlement dates established in the tender offer documents.
About ATS
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, chemicals, consumer products, electronics, food, beverage, transportation, energy, and oil and gas. Founded in 1978, ATS employs approximately 4,200 people at 20 manufacturing facilities and over 50 offices in North America, Europe, Southeast Asia and China. The Company's shares are traded on the Toronto Stock Exchange under the symbol ATA. Visit the Company's website at www.atsautomation.com.
Forward-Looking Statements:
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ATS, or developments in ATS' business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. ATS cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made.
Forward-looking statements in this press release relate to, among other things: confirmation of tender offer results by March 18, 2021 and payment of the purchase price for shares submitted to the offer. The risks and uncertainties that may affect forward-looking statements include, among others: that results as confirmed by March 18, 2021 are materially different than the preliminary results disclosed herein and other risks detailed from time to time in ATS' filings with Canadian provincial securities regulators.
Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and other than as required by applicable securities laws, ATS does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
SOURCE ATS Automation Tooling Systems Inc.
Shereen Zahawi, Director Investor Relations, (519) 653-6500, [email protected]
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