euro adhoc: Schering AG
Mergers - Acquisitions - Takeovers
Bayer AG
announces offer for Schering AG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
23.03.2006
Bayer AG has notified Schering AG that the Executive Board and Supervisory Board of Bayer AG have decided to propose to the shareholders of Schering AG an all-cash takeover offer of EUR 86 per share. This offer represents a premium of EUR 9 per share, compared to the bid of Merck KGaA announced on March 13, 2006. The Executive Board of Schering AG welcomes the offer of Bayer AG and, having examined the final documents, will recommend its acceptance to the shareholders.
Legal instruction At an appropriate time, Schering Aktiengesellschaft will file a solicitation/recommendation statement with the U.S. Securities and Exchange Commission relating to any tender offer for the ordinary shares or American Depositary Shares of Schering Aktiengesellschaft. Holders of ordinary shares and American depositary shares of Schering Aktiengesellschaft are advised to read such solicitation/recommendation statement when it becomes available because it will contain important information. Holders of ordinary shares and American depositary shares of Schering Aktiengesellschaft will be able to obtain such solicitation/recommendation statement and other filed documents when they become available free of charge at the U.S. Securities and Exchange Commission's website (http://www.sec.gov) and at Schering Aktiengesellschaft's website (http://www.schering.de).
end of announcement euro adhoc 23.03.2006 21:17:01
Further inquiry note:
Oliver Renner
Head Corporate Business Communication
Tel.: +49 (0)30 468 12431
Fax: +49 (0)30 468 16646
E-Mail: oliver.renner@schering.de
Branche: Pharmaceuticals
ISIN: DE0007172009
WKN: 717200
Index: DAX, CDAX, HDAX, Prime All Share
Börsen: Baden-Württembergische Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / regulated dealing
New York / ADR
Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / official dealing
Hamburger Wertpapierbörse / official dealing
Börse Düsseldorf / official dealing
Bayerische Börse / official dealing