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February 24, 2014
06:23 EDTBAYRYBayer extends offer for Algeta takeover offer
The Bayer Group is extending the offer period for the voluntary takeover offer for Norwegian pharmaceutical company Algeta ASA, Oslo, by two days to February 26 at 09:00 CET. Except for the extension of the offer period, all other terms and conditions of the offer remain unchanged. Bayer is offering NOK 362 in cash per share for all issued Algeta shares. As of February 24 at 7:40 CET, Bayer had received acceptances and pre-acceptances of the offer for approximately 40,485,490 shares, representing approximately 92.17 % of Algeta's share capital in response to its voluntary takeover offer. The acceptance level is based on preliminary numbers and may be subject to adjustments. Currently, Bayer does not own any shares in Algeta ASA. All regulatory approvals required for completion of the proposed acquisition have been obtained. However, the offer is still subject to certain closing conditions, which are set out in the offer document published on January 20. These stipulate, among other things, that at least 90 % of Algeta's share capital must be tendered to Bayer. It remains to be verified by means of the final acceptance numbers that this condition is satisfied. Bayer maintains its right to further extend the offer period as set out in the offer document. Subject to the fulfillment or waiver of all offer conditions, Bayer expects to complete the acquisition in the first quarter of 2014.
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