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voestalpine increases takeover offer for BÖHLER-UDDEHOLM AG from EUR 69.00 to EUR 73.00; acceptance period extended until June 4, 2007

18 May 2007 | 

On April 26, 2007, voestalpine AG published a voluntary public takeover bid to all shareholders of BÖHLER-UDDEHOLM AG. voestalpine AG has notified the Austrian Takeover Commission of the following revision of the terms of the takeover bid:

voestalpine AG increases the offer price from originally EUR 69.00 per BÖHLER-UDDEHOLM share to EUR 73.00 per BÖHLER-UDDEHOLM share and extends the acceptance period until June 4, 2007, 5:30 pm, Vienna time. As a result, the shareholders of BÖHLER-UDDEHOLM AG have 10 Austrian trading days or 10 full US business days to accept the revised voluntary bid from the date of this notice.

The takeover bid remains subject to the condition precedent of voestalpine AG reaching a holding of more than 50% of BÖHLER-UDDEHOLM AG’s voting stock and the obtaining of the relevant merger control approvals.

The increase of the offer price reflects the positive expectations of the capital markets confirmed by the First Quarter 2007 results of BÖHLER-UDDEHOLM AG published on May 15, 2007. It is an increase of the offer price of roughly 6% and exceeds the closing price of the BÖHLER-UDDEHOLM shares as of May 16, 2007, by EUR 2.49.

The revision of the takeover bid will be published on May 19, 2007.

This communication does not constitute a public offer for the acquisition of shares in or other securities issued by BÖHLER-UDDEHOLM AG. The public offer has been made only and solely through publication of the takeover bid on April 26, 2007. Its acceptance can occur only in accordance with the terms of the takeover bid as amended. The bid document for the takeover was available from April 26, 2007 and the revision of the takeover bid is available from May 19, 2007 onwards each in the exclusively binding German version and in a non-binding English translation on, among others, voestalpine AG’s website www.voestalpine.com. In addition, the non-binding English translation of the revision of the takeover bid is also being held from May 19, 2007 onwards for distribution upon request to U.S. shareholders of Böhler-Uddeholm AG, free of charge, at voestalpine AG, voestalpine Straße 1, 4020 Linz, Austria (requests to be submitted via email to peter.fleischer@voestalpine.com, or by telephone at +43 50304 15 9949).

Further information is available on www.voestalpine.com or contact the Investor Relations Team +43/50304/15-9949.