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Pronova Biopharma ASA Announces Further Details on BASF SE's Cash Offer to Acquire Shares in Pronova Biopharma


Wednesday, 5 Dec 2012 02:58am EST 

Pronova Biopharma ASA announced, with reference to the stock exchange notice from November 21, 2012 regarding the transaction agreement with BASF SE, whereby BASF committed to make a voluntary offer to acquire all outstanding shares of Pronova Biopharma for NOK 12.50 per share in cash, that the offer document with the detailed terms and conditions of the offer has been reviewed and approved by the Oslo Stock Exchange in accordance with Section 6-14 of the Norwegian Securities Trading Act. The offer period is from and including December 5, 2012 to and including December 19, 2012 at 09.00 (CET). Herkules Private Equity, Kistefos, Pronova's Directors and Management, in aggregate representing approximately 60% of the Company's share capital and votes, have irrevocably undertaken to accept the offer. These pre-acceptances cannot be withdrawn in the event of a competing offer. Pronova's Board of Directors has unanimously recommended that shareholders accept the offer. Pronova has engaged Morgan Stanley & Co. Limited as its exclusive financial advisor. ABG Sundal Collier Norge has provided an independent statement regarding the offer in accordance with section 6-16 (1) c.f. 6-19 (1) of the Norwegian Securities Trading Act which is included in the offer document. 

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