Sulzer shareholders vote to spin off Medica

Shareholders in Sulzer, now facing a hostile takeover bid, have approved the spin-off of its 74 per cent stake in medical devices' company, Sulzer Medica.

This content was published on April 19, 2001 - 11:58

Shares in the group were also suspended at the start of trading on the Swiss bourse while the group's annual general meeting takes place in Winterthur.

Shareholders there are set to decide on the 167-year-old company's fate, voting to either support current management or cast their lot with Rene Braginsky's InCentive Capital group, which has mounted the hostile bid.

Both Sulzer's current management and InCentive had planned to spin off Sulzer's core industrial business from its stake in Sulzer Medica.

The InCentive offer values Sulzer's core business, which includes surface technology, turbomachinery, pumps and thermal fuel cells, at SFr1.6 billion.

However, Sulzer says that Braginsky's offer is still too low.

swissinfo with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know:

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Share this story

Change your password

Do you really want to delete your profile?