Deadline Set for Sulzer's Proposed Takeover of Bodycote
April 17, 2007
The United Kingdom’s Takeover Panel has ruled that Sulzer must either announce a firm intention to make an offer for Bodycote or announce that it does not intend to make an offer for Bodycote by 5:00 p.m. on April 27. No extension to the deadline will be granted except with the consent of the Panel Executive. Bodycote earlier rejected a $2 billion proposal from Sulzer. Bodycote (United Kingdom) is a leading supplier of testing and thermal-processing services, including materials testing, engineering and technology, environmental, heat treatments and metal joining, hot isostatic pressing and metallurgical coatings. Sulzer (Switzerland) is active in over 120 locations worldwide in the machinery and equipment industry as well as the surfacing-technology business.