Adsero Corp., the parent company of Canada-based remanufacturer Teckn-O-Laser, made a tentative offer to acquire all outstanding shares of Turbon AG, a German imaging supply company.
The aggregate offering price, pursuant to the offer, is approximately US$49 million, consisting of US$40 million in cash and US$9 million in Adsero stock.
The Turbon AG executive board has agreed to meet representatives of Adsero Corp. to discuss the details of the proposed transaction as well as the planned role and significance of Turbon AG within the combined entity. The completion and closing of the transaction is subject to certain conditions, including but not limited to: Adsero Corp. completing its due diligence, finalization of the necessary funding to close the transaction and the approval of Turbon AG's shareholders.
Publicly traded Adsero Corp. (Nasdaq: ADSO) acquired Teckn-O-Laser in a reverse acquisition on Feb. 1, 2005, purchasing 100 percent of shares of the Montreal-based toner and inkjet remanufacturer. At the time, the company said it would then use its public stock as currency to buy additional companies through acquisition or merger.
Adsero Corp., through its wholly owned subsidiary Teckn-O-Laser, is a manufacturer and distributor of remanufactured toner and inkjet cartridges sold domestically and internationally to distributors and retail office supply stores. Turbon AG, through its subsidiaries, develops, produces and distributes compatible imaging supplies for laser, inkjet, dot-matrix and thermal transfer printers. Turbon AG operates production plants in Europe, Asia and the U.S.
For more information visit http://www.tecknolaser.com and http://www.turbongroup.com.
