But the German carmaker and engine maker Rolls-Royce said shareholders who tender their Tognum stock will also be entitled to a proposed 0.50 euro-per-share dividend for 2010.
Shareholders of Tognum, which makes specialty engines, can tender their shares as of Wednesday and until May 18.
The bidders added that the offer, which values Tognum at about 3.2 billion euros ($4.6 billion), is subject to a minimum acceptance threshold of at least 50 percent plus one share.
Tognum shares closed at 25.56 euros on Tuesday, meaning that the offer price represents a discount of around 6.5 percent.
Since the beginning of March however, shares in the group have risen more than 38 percent as investors bet that Daimler and Rolls-Royce would sweeten their offer for Tognum.
ING Groep, which holds 9 percent of Tognum shares, said this week it would be “extremely disappointed” if the diesel engine maker’s management recommended that investors accept the 24 euro-per-share offer.
Tognum shares eased 0.1 percent to 25.53 euros in early trade, indicating investors have not yet given up on a better deal. Daimler was up 0.8 percent and Rolls-Royce gained 0.5 percent.
“The partners intend to maintain the current manufacturing sites and are confident that the growth strategy will secure jobs and lead to further opportunities,” Rolls-Royce said in a statement, adding that the deal would enhance Tognum’s exposure to emerging markets.
If the two bidders succeed with the takeover, Rolls-Royce will expand its marine and diesel power business. Daimler will re-establish closer ties with a major buyer of its truck diesel engines, which are retooled by Tognum for other purposes.
The two hope to tap into a global market worth more than 30 billion euros a year that is growing at above-average rates.
