ERJ staff report (DS)
Quincy, Illinois -- Titan International, Inc. has proposed issue of up to 6,240,833 new Titan International common shares to Titan Europe shareholders in connection with Titan International's offer for Titan Europe plc.
The details of the Offer are for Titan Europe shareholders to receive one new share of Titan International common stock for every 11 Titan Europe shares held. Based on the closing exchange rate of Â£1=$1.6016 and the closing stock price of Titan International common stock of $20.03 on September 13, 2012, the Offer values each Titan Europe share at approximately 113.36 pence.
The Offer represents a premium of approximately 15.1 percent to the closing price of 111.25 pence per Titan Europe share on September 13, 2012
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from Titan International
Prospectus from Titan International