In December 2024, the Higher Regional Court of Stuttgart deemed the cash settlement offer of €31.58 per share for HOMAG shareholders to be appropriate. This final judgment ended a legal dispute that had been ongoing since 2015. HOMAG shareholders had initiated valuation proceedings at that time, challenging the cash settlement of €31.56 per share determined by Dürr, as well as the guaranteed dividend of €1.18 per share (gross) also set by Dürr. As a result, the Regional Court of Stuttgart slightly increased both values in 2019: The cash settlement was raised by 2 cents and the guaranteed dividend by 1 cent. This decision was confirmed by the final judgment of the Higher Regional Court of Stuttgart.
With the publication of the judgment by the Higher Regional Court in the Federal Gazette, the legally required two-month tender period began on January 3. Until March 3, Dürr was obliged to purchase shares tendered by HOMAG shareholders for €31.58 per share, plus accrued interest. During this period, Dürr acquired around 2.5 million shares and increased its stake in HOMAG to 83.8%. There may still be slight adjustments due to processing times at the custodian banks. After the period expired, the cash settlement offer ended, thus relieving Dürr from its obligation to purchase the tendered shares. HOMAG shareholders who did not tender their shares will continue to receive an annual guaranteed dividend of €1.19 (gross) per share.
Dietmar Heinrich, CFO of Dürr AG, welcomed the decision of the Higher Regional Court of Stuttgart: “The ruling provides legal certainty and essentially confirms the values we determined for the cash settlement and guaranteed dividend. We were well prepared for the tendering of the HOMAG shares, as we had set aside the necessary liquidity reserves. We also benefit from the fact that the tendering will reduce the expense for the annual dividend payment.”