DaimlerChrysler Extends Detroit Diesel Offer
September 27, 2000
DaimlerChrysler has extended its $23 per share cash tender offer for Detroit Diesel until Oct. 9.
According to published reports, shareholders representing a total of 22,787,944 common shares in Detroit Diesel had accepted the offer at close of business yesterday, when the offer was scheduled to expire.
Those shares, along with DaimerChrysler's current shareholding, bring the company’s total ownership to more than 98% of the outstanding common stock of Detroit Diesel.
DaimlerChrysler said it is still awaiting approval of the deal from European Commission officials.