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U.S. Competition Authority approval for KONE's acquisition of Partek

U.S. Competition Authority approval for KONE's acquisition of Partek

Stock Exchange Release Published 13/08/2002

(Unofficial translation from the original in Finnish)
Federal Trade Commission has issued an early termination notice on 5 August 2002 regarding KONE’s acquisition of Partek. Currently, both the EU Commission and Federal Trade Commission have now approved KONE’s undertaking to acquire all shares and securities in Partek.
The public tender offer for the shares and securities in Partek Corporation is conditional on, among other, KONE receiving all necessary public authority approvals and all conditions potentially set forth in these approvals being acceptable to KONE. In addition to the approvals now obtained, KONE has decided to wait for additional authority approvals for certain key market areas. KONE expects to receive all necessary approvals during this week.
KONE announced its offer on 20 May 2002 and the offer period commenced on 18 June 2002. The offer period is expected to end on 16 August 2002 (preliminary). The largest shareholders in Partek as well as Partek’s unanimous board of directors support KONE’s offer.
With regards to acceptance procedure and questions relating to the Offer, the investors are instructed to turn to their asset managers and nominee register custodians for further information.
The offering circular is available in Finnish and Swedish in the Helsinki Exchange’s HEXGATE information office and service point as well as in Nordea Bank’s asset management branch offices in Finland. In addition, the offering circular shall be made available on the Internet (www.nordeasecurities.com, www.kone.com and www.nordea.fi).
KONE Corporation
Tapio Hakakari
Secretary to the Board of Directors
KONE Finance Corporation
Aimo Rajahalme
Chairman of the Board of Directors
This stock exchange release must not be released or distributed in whole or in part in or into the United States of America, Canada, Australia or Japan.
The offer is not being made directly or indirectly in or into the United States of America, or by use of the mails or by any means or instrumentality (including without limitation facsimile transmission, telex, telephone and the internet) of interstate or foreign commerce, nor is it being made directly or indirectly in or into Canada, Australia or Japan.