Yesterday Amerigon Europe GmbH (Amerigon) announced the plan to offer to acquire bearer shares from shareholders of W.E.T. Automotive Systems AG (W.E.T.) in an all-cash voluntary public takeover offer. The transaction is subject to the approval of the respective antitrust authorities. The bidder and the majority shareholders of W.E.T. have entered into an agreement (the SPA) comprising either the direct sale of the shares to the bidder or their tender into the takeover offer. The SPA is subject to the approval of the competent corporate bodies as well as other conditions. The takeover offer is made in connection with the execution of a Business Combination Agreement between Amerigon and W.E.T. Amerigon is advised by the international law firm Milbank, Tweed, Hadley & McCloy LLP regarding all non-US corporate, tax and antitrust law aspects of the acquisition.

The bidder Amerigon Europe GmbH, Augsburg, Germany, is a wholly owned subsidiary of Amerigon Inc. with its registered seat in Northville, Michigan, USA. Amerigon develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications. W.E.T., Odelzhausen, Germany, established in 1968, is a global leader in the automotive industry, with a particular focus on thermal seat comfort.

Amerigon Europe GmbH was advised on the transaction by partners Peter Memminger (corporate law/M&A, Frankfurt), Christoph Rothenfusser (corporate law/M&A, Munich, both lead), Ulrike Friese-Dormann (corporate law/M&A, Munich), Rolf Fueger (tax law, Munich) and Dr. Alexander Rinne (anti-trust/regulatory law, Munich) and associates Thomas Tiedemann, Hannibal Oezdemir, Markus Messinger (all corporate law/M&A, Frankfurt), Michael Pujol and Tobias Nikoleyczik (both corporate law/M&A, Munich).