DaimlerChrysler has extended its $23 per share tender offer for all outstanding shares of diesel engine maker Detroit Diesel.
The offer by the parent company of Freightliner was announced Monday and will expire at 5 p.m. Monday, Sept. 11. As of Aug. 25, the number of shares of Detroit Diesel common stock that had been tendered was 17,755,953, which, together with DaimlerChrysler's current ownership, amounts to 98% of the outstanding stock.
The company announced July 20 that it would buy the engine maker.
DaimlerChrysler expects to file its pre-merger notification in the U.S. this week. The company filed for notification in Europe last week, and expects acceptance by the end of this week.
The offer by the parent company of Freightliner was announced Monday and will expire at 5 p.m. Monday, Sept. 11. As of Aug. 25, the number of shares of Detroit Diesel common stock that had been tendered was 17,755,953, which, together with DaimlerChrysler's current ownership, amounts to 98% of the outstanding stock.
The company announced July 20 that it would buy the engine maker.
DaimlerChrysler expects to file its pre-merger notification in the U.S. this week. The company filed for notification in Europe last week, and expects acceptance by the end of this week.
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