Mar 27, 2006

Eichhof mulls bid for Amazys Holding

Source: via AP

ZURICH, Switzerland — Swiss conglomerate Eichhof Holding AG said Friday it’s considering a bid on Amazys Holding AG (and it’s subsidiary GretagMacbeth), which is currently in takeover talks with X-Rite Inc. of the United States.

Amazys, based in Regensdorf, Switzerland, is the second-largest provider of color technology for products in various sectors, ranging from graphic arts, printing and packaging to textiles and automotive.

It ranks behind market leader X-Rite, based in Grandville, Mich. X-Rite shares fell 10 cents to $12.40 in afternoon trading Friday on the Nasdaq Stock Market.

X-Rite launched a takeover offer for Amazys in late January.

Eichhof said it hasn’t determined the exact per-share price of the bid, but said it would be at least 5 Swiss francs ($4) higher than X-Rite’s bid, “which would make it at least 108.80 (Swiss francs),” or about $84.

Both the final price, as well as the decision to go through with the bid, hinge on a due diligence process, it said.

Swiss industrial conglomerate Eichhof also offers color solution management through its U.S.-based subsidiary Datacolor.

Read about the X-Rite Announcement of Agreement to Acquire Amazys Holding AG

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