Nexans not to submit an offer document with respect to Draka Holding N.V. to the Netherlands Authority for the Financial Markets
Paris, November 24, 2010 – With reference to its press release dated October 27, 2010 in relation to a possible public bid for all of the ordinary shares of Draka Holding N.V. at a price of 15 euros per share, Nexans hereby announces, pursuant to article 7 paragraph 1(b) of the Dutch Decree on Public Takeover Bids (Besluit Openbare Biedingen Wft), that it will under the present circumstances not submit an offer document in relation to such bid for approval to the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten).
This press release is issued pursuant to article 7 paragraph 1(b) of the Dutch Decree on Public Takeover Bids, requiring a status update.
With energy as the basis of its development, Nexans, the worldwide leader in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotive, electronics, aeronautics, handling and automation. With an industrial presence in 39 countries and commercial activities worldwide, Nexans employs 22,700 people and had sales in 2009 of 5 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. More information on www.nexans.com.