BWT CEO Takes Control With $371M Mandatory Bid

Law360, New York (September 14, 2012, 2:20 PM EDT) -- Austrian water purification company BWT AG said Friday that the private trust owned by its CEO, WAB Privatstiftung, has made a mandatory offer to buy a controlling stake in the company for €16 ($20) per share, valuing BWT at $371 million.

WAB, run by BWT chief Andreas Weissenbacher, entered into a takeover agreement with the company whereby the trust and its affiliates will take their interest in BWT stock up to 5 million shares, roughly 28 percent of the company's total stock, according to BWT....
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