Chiron Responds to Novartis Offer
05 Settembre 2005 - 10:02PM
Business Wire
Chiron Corporation (NASDAQ: CHIR) today issued the following
statement from Chiron's independent board directors in response to
the offer from Novartis AG (NYSE: NVS) on September 1, 2005, to
acquire the approximately 58% of Chiron shares that Novartis does
not already own for $40 per Chiron share in cash: "Over the 10
years since Novartis has been Chiron's largest stockholder, Chiron
has regularly discussed with Novartis a number of strategic
initiatives, including mergers, significant acquisitions and other
transactions, including transactions initiated by Novartis. As a
result, Chiron has had an on-going dialogue with Novartis regarding
its intentions with respect to its investment in Chiron. Chiron's
independent directors have not, however, solicited an offer to buy
Chiron. "We are pleased by the fact that Novartis continues to
recognize Chiron's promising prospects, as do Chiron's independent
directors. "After thorough analysis and consideration of Novartis'
offer to acquire the shares of Chiron it does not already own for
$40.00 per share in cash, the independent directors of Chiron have
determined that this offer is inadequate." About Chiron Chiron
delivers innovative and valuable products to protect human health
by advancing pioneering science across the landscape of
biotechnology. The company works to deliver on the limitless
promise of science and make a positive difference in people's
lives. For more information about Chiron, please visit
www.chiron.com. This news release contains forward-looking
statements that involve risks and uncertainties and are subject to
change. A discussion of the company's operations and financial
condition, including factors that may affect its business and
future prospects that could cause actual results and developments
to differ materially from those expressed or implied by any
forward-looking statements, is contained in documents the company
has filed with the SEC, including the Form 10-K for the year ended
December 31, 2004, and the Form 10-Q for the quarter ended June 30,
2005, and will be contained in all subsequent periodic filings made
with the SEC. These documents identify important factors that could
cause the company's actual performance to differ from current
expectations. Chiron does not undertake an obligation to update the
forward-looking information the company is giving today.
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