Ennoconn Corporation informed Kontron AG on Tuesday that it has surpassed the 30% voting rights mark, a development that requires Ennoconn to launch a mandatory takeover bid for all remaining Kontron shares listed on the Frankfurt Stock Exchange.
The mandatory offer is set at €23.5 per share in cash. Ennoconn indicated it will publish the formal offer document at a later date.
Kontron said it will examine the mandatory takeover offer and the proposed price in line with applicable legal requirements before issuing any assessment or recommendation to shareholders. According to Ennoconn, the €23.5-per-share proposal represents a 2.4% premium over Kontron's closing price on June 9 and exceeds the statutory minimum price of €23.48.
As a consequence of regulatory obligations tied to the shareholding threshold and the impending mandatory offer, Kontron has suspended its share buyback program with immediate effect. The buyback initiative had been announced on March 25, 2026.
Kontron's CEO, Hannes Niederhauser, has said he intends to retain his stake in the company and will not accept the mandatory offer for his holdings, which represent approximately 2.2% of Kontron's share capital, amounting to 1,393,963 shares.
Ennoconn Corporation is identified as the largest shareholder of Kontron AG.
Next steps will include the publication of the formal offer documentation by Ennoconn and Kontron's review process under the legal framework governing mandatory takeover offers. The company has not announced a timetable for its assessment or for any recommendation to shareholders.
Market participants and holders of Kontron stock should note that the suspension of the buyback program is effective immediately, and that the final terms and timing of the mandatory offer will be clarified once Ennoconn releases the full offer document.