TU Darmstadt spinout Akasol had floated on the Frankfurt Stock Exchange in 2018 and has now agreed to an acquisition by BorgWarner.
Akasol, a Germany-based battery producer spun out from TU Darmstadt, is looking to be acquired by automotive supplier BorgWarner for €120 ($145) a share.
The offer represents a premium of approximately 23% to Akasol’s three-month volume-weighted average share price prior to announcement. It values Akasol at $882m and BorgWarner has secured the agreement of shareholders owning some 59% of Akasol.
Akasol began life as a research project at TU Darmstadt in 1990, before incorporating as a limited business…
