FRANKFURT (Reuters) - U.S. ATM maker Diebold (N:DBD) is optimistic it will still gain the required level of support for its planned $1.8 billion (1.2 billion pounds) takeover of German rival Wincor Nixdorf (DE:WING), its CEO told Reuters.
Diebold needs 75 percent of Wincor Nixdorf shareholders to tender their shares by March 22 for the cash and shares deal to succeed but by Monday the acceptance level stood at only 39.6 percent, Wincor said.
"We knew that reaching the finish line of the proposed merger was going to be close, but the potential benefits have made it worth pursuing, and the investors and customers we’ve met are very supportive," Diebold CEO Andy Mattes said in a statement to Reuters.
Mates said that he remains optimistic that more than 75 percent of the shares would be tendered, but confirmed that the deal would not be changed.
"The deadline to change the offer in any way has now passed, so if we do not reach the 75 percent tender threshold by the end of the day on the 22nd, the deal will not happen," he said.