Sulzer AG
This article was originally published in The Gray Sheet
Executive Summary
Shareholder InCentive Capital no longer intends to pursue an unsolicited takeover bid for the firm, Sulzer announces April 26. InCentive made a $2.6 bil. bid for Sulzer in February with the intention of accelerating a spinout of the firm's high-growth Sulzer Medica unit (1"The Gray Sheet" Feb. 26, 2001, p. 10). Sulzer has since proposed its own plan for spinning off the Medica business, a transaction that is expected take place in the third quarter