SEIMENS COMPLETES ACQUISITION OF MOORE PRODUCTS
February 25, 2000
Siemens AG’s Siemens Energy & Automation Inc. unit completed its tender offer and subsequent merger for Moore Products Co. On January 17, 2000, Siemens announced it would buy Moore, a manufacturer of measurement and process-control equipment, for $170 million.
Under the offer, Siemens Energy paid $54.71 million for each common share of Moore and $21.88 for Moore’s preferred shares. As a result of the merger each share of common stock of Moore not owned by Siemens Energy & Automation or its subsidiaries was converted into the right to receive $54.71 per share in cash, subject to appraisal rights.
Conway, Del Genio, Gries & Co., LLC ("CDG"), a firm providing specialized corporate finance advisory services focused on mergers and acquisitions and restructurings, advised Moore’s Board of Directors regarding this transaction. For further information, please contact Robert A. Del Genio of CDG at (212) 813-1300.