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Tornos and Starrag announced on Tuesday that the market performance of both companies will complement each other perfectly. The merger will strengthen the positions of both partners and provide great development potential and synergies in all areas. In the event of a possible merger, the Tornos and Starrag brands will be preserved and no layoffs are planned.
You will be informed “when the time comes” about the results of the evaluation process and further negotiation steps.
When Tornos’ board decided to review the merger, Walter and Till Fust abstained from the vote due to their ties to the Starrag Group. Walter Fust holds about half of the shares in both Tornos and Starrag and sits on both boards. Like Tornos CEO Michael Hauser, Walter Fust abstained from voting on the Starrag board.
If the merger negotiations are successful, the shareholders of both companies will decide to merge at the extraordinary general meeting.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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