Swiss Takeover Board Clears Dormakaba's Opting-out Clause for Planned Ownership Restructuring

01:36 AM EDT, 09/03/2026 (MT Newswires) -- Dormakaba (DOKA.SW) said Thursday that the Swiss Takeover Board determined that its planned opting-out clause is valid under the country's takeover rules, paving the way for the security systems group's proposed ownership restructuring. The clause, which requires shareholder approval, would exempt the Mankel family from making an offer for the company following the restructuring. Under the restructuring, the company plans to acquire the Mankel family's 47.5% interest in its operating business in exchange for 36,161,560 newly issued Dormakaba shares and 29.9 million francs in cash. The transaction would raise the Mankel family's stake in the company to 52.09%. The Takeover Board said the opting-out provision is subject to the required transparency and shareholder approvals, including a "majority of the minority." It also ruled that the Mankel and Kaba families are not acting in concert.