Buhler Industries Inc. (TSX: BUI) has completed negotiations with Combine Factory Rostselmash Ltd. (Rostselmash) that resulted in an improved offer, where extending the acquisition of the 80% of the outstanding common shares of BUI over five years has been eliminated and instead an all cash acquisition has been presented.
According to the revised offer, Rostselmash will purchase 80% of the outstanding common shares of BUI for $7.25 per share payable in cash on closing. The closing date has been set for October 31, 2007, subject to the completion of procedural requirements.
The Board of Directors is scheduled to meet on September 18, 2007 to discuss the revised offer and to issue a recommendation to the shareholders.
Rostselmash is a major combine manufacturer located in Rostov-on-Don, Russia that produces over 17% of the total world production of agricultural combines.
For more information visit www.rostselmash.com.
Buhler Industries Inc. (TSX: BUI) designs, manufactures and distributes agricultural equipment. The products are marketed under the Buhler® brand name, including the Farm King®, Allied®, Inland® and Versatile® product lines. Buhler Industries Inc. operates ten modern manufacturing and eight distribution centers totaling over 1.6 million square feet of facilities in the United States and Canada and employs more than 800 people. For more information visit www.buhler.com.
Ossama A. Abouzeid, Ph.D.,
MBA President and CFO
Phone: (204) 654-5710
E-mail: oabouzeid@buhler.com
Trading symbol: BUI