GÖRG advises First Sensor on conclusion of a domination and profit and loss transfer agreement with TE Connectivity

Munich, 15.04.2020

GÖRG Partnerschaft von Rechtsanwälten mbB under the lead of Munich partner Dr. Bernt Paudtke advised First Sensor AG ("First Sensor") on the conclusion of a control and profit and loss transfer agreement with TE Connectivity Sensors Germany Holding AG ("TE Connectivity"), an indirect subsidiary of TE Connectivity Ltd. as controlling company.

TE Connectivity offers the outside shareholders to acquire the First Sensor shares for EUR 33.27 as part of the domination and profit transfer agreement. In addition, the domination and profit and loss transfer agreement provides for a guaranteed dividend resp. annual compensation payment of EUR 0.56 for or to the outside shareholders.

TE Connectivity has acquired 71.87% of shares in First Sensor by a voluntary public takeover bid, which was completed on 12 March 2020. GÖRG Partnerschaft von Rechtsanwälten mbB has comprehensively advised First Sensor in the framework of the voluntary public takeover offer.

On 10 December 2019, First Sensor published its decision to enter into negotiations with TE Connectivity on the conclusion of the domination and profit and loss transfer agreement. The domination and profit and loss transfer agreement is still subject to the approval of the general meetings of both parties. The Annual General Meeting of First Sensor is scheduled for 26 May 2020.

Advisors 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 Glauer, Associated Partner, M&A / Corporate, Munich
Dr. Lutz Pospiech, Associated Partner, M&A / Corporate, Munich  
Tobias Reichenberger, Associate, M&A / Corporate, Munich

Advisors TE Connectivity

Freshfields Bruckhaus Deringer LLP
Dr. Sabrina Kulenkamp, Partner, M&A / Corporate, Frankfurt am Main
Daniel von Bülow, Associate, M&A / Corporate, Frankfurt am Main
Maximilian Mosch, Asscoiate, M&A / Corporate, Frankfurt am Main

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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