Titan launches full bid for Titan Europe

ERJ staff report (DS)

Quincy, Illinois --Titan International, Inc. said it is bidding for the entire share capital of Titan Europe Plc.

According to the terms of the bid, Titan Europe shareholders will be entitled to receive one new Titan International common stock for every 11 Titan Europe shares held. The Offer values each Titan Europe share at approximately 128.1 pence per share and Titan Europe's fully diluted share capital at approximately £112.2 million.

Titan International currently owns approximately 21.7 percent of Titan Europe through its wholly owned subsidiary Titan Luxembourg S.a.r.l.

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Press release from Titan International