Aevis Victoria SA (SWX:AEVS) made an offer to acquire additional 88.01% stake in LifeWatch AG (SWX:LIFE) for approximately CHF 180 million on January 24, 2017. Antoine Hubert, his wife Géraldine Hubert-Reynard, and Michel Reybier the “Hubert-Reybier-Gruppe” are acting as parties in concert with Aevis Victoria. Under the terms of the offer, LifeWatch shareholders can opt for an exchange offer or a cash alternative. For each share of LifeWatch, Aevis will pay either 0.1818 of a share of its common stock or CHF 10 in cash. The cash alternative is financed with its own resources as well as available bank credit lines by AEVIS. The public takeover offer is subject to several conditions including a minimum tender of 67% of the LifeWatch shares and executing a capital increase for financing the transaction. Also, approval from the Board of LifeWatch. On January 23, 2017, the members of the Hubert-Reybier-Gruppe completed an agreement with AEVIS, according to which they commit to AEVIS to support the offer and to take all reasonable measures in order to complete this successfully. In addition, they committed to hand over to the offeror at the end of the offer period all the LifeWatch shares, if necessary, held by them. On January 24, 2017, the board of LifeWatch formed an independent committee consisting of Patrick Schildknecht (chair of the committee), Raymond Cohen, Jinsheng Dong and Thomas Rühle. After the completion of the offer, AEVIS intends to delist the shares of LifeWatch from the SIX Swiss Exchange. The offer period runs from March 7, 2017 until April 3, 2017. As on February 20, 2017, offer period will start on March 7, 2017 and end on April 10, 2017. As of March 10, 2017, the board of LifeWatch recommends its shareholders not to accept the offer as they conclude that the offer is neither in the best interest of the Company nor its shareholders and in lieu Lifewatch now wants to check other offers. On April 9, 2017, BioTelemetry communicated a competing offer for LifeWatch. In accordance with Swiss takeover law, the offer of AEVIS VICTORIA will be automatically extended until the end of the offer of BioTelemetry. AEVIS VICTORIA will publish its revised timetable once the final timetable of BioTelemetry’s offer is available. As on April 26, 2017, the deal tender offer period has been extended to May 23, 2017. The extension of the offer is subject to approval from the Board of AEVIS. As on May 22, 2017, Aevis extended the offer period to May 31, 2017. On May 24, 2017, a revised offer by BioTelemetry for LifeWatch AG was launched with shareholders having the option to receive either CHF 10 in cash and 0.1617 shares of BioTelemetry stock or CHF 8 in cash and 0.235 shares of BioTelemetry stock. Philippe R. Blangey of Dynamics Group acted as the public relations advisor, UBS AG, Zurich, and N M Rothschild & Sons Limited acted as financial advisors for Aevis. UBS AG is assigned with the execution of the offer. Jacques Iffland, Ariel Ben Hattar, Eric Olivier Meier and Nicole Humbel of Lenz & Staehelin acted as legal advisors for Aevis.