Morning Comment Germany - Today’s research focus: Kontron-06/11/2026

Research evidence excerpt

Morning Comment Germany - Today’s research focus: Kontron-06/11/2026

Morning Comment Germany

11 JUN 2026

Today’s research focus: Kontron

• Kontron – Buy, TP EUR 28 (sponsored research): Ennoconn Corporation has formally notified Kontron that it has crossed the 30%

voting rights threshold and is therefore obliged to launch a mandatory takeover offer at EUR 23.50 per share in cash. This confirms what

was already telegraphed in earlier communications. The key development relative to our prior note is that a concrete offer price is now

on the table - and at only a 2.4% premium to the 9 June closing price, it sits barely at the statutory minimum of EUR 23.48, leaving virtually

no value to minority shareholders beyond where the stock was already trading. Kontron has suspended its share buyback programme

with immediate effect pending completion of the offer. CEO Niederhauser has stated he will not tender his ~2.2% stake. Our last PT was

EUR 28, the rating was “buy”. Link to report

Please see Morning Update for relevant share prices and market data

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