Merck KGaA: European Antitrust Authorities Clear Acquisition of Serono
December 18 2006 - 1:45AM
PR Newswire (US)
GENEVA, Switzerland, December 18 /PRNewswire-FirstCall/ -- Serono
(virt-x: SEO and NYSE: SRA) has today been informed that Merck KGaA
of Darmstadt, Germany has published the following press release:
The European Commission has approved the planned acquisition of
Serono SA by Merck KGaA without any restrictions. The transaction
already received U.S. antitrust approval on October 30, 2006.
Following the closing of the agreement with the Bertarelli family,
which remains planned for early January 2007, Merck will make a
public tender offer under Swiss law to the shareholders of Serono
for Sfr 1,100 per share. Forward-looking statements Some of the
statements in this press release are forward looking. Such
statements are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements of Serono S.A. and affiliates to be
materially different from those expected or anticipated in the
forward-looking statements. Forward-looking statements are based on
Serono's current expectations and assumptions, which may be
affected by a number of factors, including those discussed in this
press release and more fully described in Serono's Annual Report on
Form 20-F filed with the U.S. Securities and Exchange Commission on
February 28, 2006. These factors include any failure or delay in
Serono's ability to develop new products, any failure to receive
anticipated regulatory approvals, any problems in commercializing
current products as a result of competition or other factors, our
ability to obtain reimbursement coverage for our products, the
outcome of any government investigations and litigation. Serono is
providing this information as of the date of this press release,
and has no responsibility to update the forward-looking statements
contained in this press release to reflect events or circumstances
occurring after the date of this press release. About Serono Serono
is a global biotechnology leader. The Company has eight
biotechnology products, Rebif(R), Gonal-f(R), Luveris(R), Ovidrel
(R)/Ovitrelle(R), Serostim(R), Saizen(R), Zorbtive(TM) and
Raptiva(R). In addition to being the world leader in reproductive
health, Serono has strong market positions in neurology, metabolism
and growth and has recently entered the psoriasis area. The
Company's research programs are focused on growing these businesses
and on establishing new therapeutic areas, including oncology and
autoimmune diseases. In 2005, Serono, whose products are sold in
over 90 countries, achieved worldwide revenues of US$2,586.4
million. Reported net loss in 2005 was US$106.1 million, reflecting
a charge of US$725 million taken relating to the settlement of the
US Attorney's Office investigation of Serostim. Excluding this
charge as well as other non-recurring items, adjusted net income
grew 28.4% to US$565.3 million in 2005. Bearer shares of Serono
S.A., the holding company, are traded on the virt-x (SEO) and its
American Depositary Shares are traded on the New York Stock
Exchange (SRA). DATASOURCE: Serono International S A CONTACT: For
more information, please contact: Corporate Media, Relations: Tel:
+41-22-414-36-00, Fax: +41-22-414-30-85, http://www.serono.com/;
Media Relations, USA: Tel: +1-781-681-2340, Fax: +1-781-681-2935,
http://www.seronousa.com/; Corporate Investor, Relations: Tel:
+41-22-414-36-01, Fax: +41 22 414 30 22, Reuters: SEO.VX / SRA.N,
Bloomberg: SEO VX / SRA US; Investor Relations, USA: Tel:
+1-781-681-2552, Fax: +1-781-681-2912
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