GÖRG advises First Sensor on potential takeover by TE Connectivity

München, 06.06.2019

GÖR

GÖRG Partnerschaft von Rechtsanwälten mbB has advised First Sensor AG under the lead management of its Munich partner Dr. Bernt Paudtke in the context of a possible takeover by TE Connectivity Ltd.

The starting point of the process was the decision of First Sensor's largest shareholder, DPE Deutsche Private Equity, to consider a sale of its shareholding of more than 30% of First Sensor's share capital. First Sensor has decided to play an active role in this process.

First Sensor and TE Connectivity have signed a Business Combination Agreement. At the same time as signing the Business Combination Agreement, TE Connectivity has signed agreements with DPE and other major shareholders of the Company, who together hold approximately 67% of the shares of First Sensor, under which shareholders irrevocably undertake to accept the offer for the shares held by them as part of a public tender offer.

With the signing of the Business Combination Agreement and the agreement with the major shareholders, TE Connectivity has announced through a subsidiary the decision to make a voluntary public takeover offer. The consideration per First Sensor share will amount to EUR 28.25, resulting in a total volume of EUR 307 million (including net debt and minority interests).

GÖRG advised First Sensor on all legal aspects of the transaction.

On the part of the bidder and the major shareholders, renowned commercial law firms were involved.

Advisor First Sensor

GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Bernt Paudtke, Partner, M&A/Corporate, Munich
Clemens Scholz-Remes, Partner, M&A/Corporate, Berlin
Dr. Christian Bürger, Partner, Antitrust Law/ Foreign Trade, Cologne
Dr. Axel Dahms, Partner, Labour Law, Berlin
Daniel Fuchs, Partner, IP/IT Commercial, Berlin
Dr. Christian Schröder, Counsel, M&A/Corporate, Munich
Dr. Christian Glauer, Associated Partner, M&A/Corporate, Munich
Dr. Lutz Pospiech, Associated Partner, M&A/Corporate, Munich
Tobias Reichenberger, Associate, M&A/Corporate, Munich
Dr. Josepha Rüberg, Associate, M&A/Corporate, Munich
Dr. Juliane Rau, Associate, M&A/Corporate, Berlin
Dr. Jan Baumann, Associate, IP/IT Commercial, Berlin
Miroslav Georgiev, Associate, Antitrust Law/Foreign Trade, Cologne

About First Sensor

Founded as a technology start-up in the early 1990s, First Sensor is now a global sensing company. Based on its know-how in chip design and production as well as microelectronic packaging, First Sensor develops standard sensors and customized sensor solutions in the fields of photonics, pressure and advanced electronics for the constantly growing demand in key applications for the target markets of industrial, medical and mobility. The strategy is geared to profitable growth and focuses on key customers and products, forward integration and strengthening the international presence. First Sensor has been listed on the Frankfurt Stock Exchange since 1999.

About TE Connectivity

TE Connectivity Ltd. (NYSE: TEL) is a $14 billion global technology leader and manufacturer of connectivity and sensor solutions. TE Connectivity enables a secure, sustainable, productive and connected future. For over 75 years, TE Connectivity's technologies have proven themselves in the most demanding environments, enabling advances in transportation, industrial applications, medical technology, power engineering, data communications and the home. With 80,000 employees, including more than 8,000 development engineers, TE Connectivity works with customers in nearly 140 countries in all leading industries.

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