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Bayer AG's Subsidiary Acquires Majority Interest In Conceptus, Inc For USD1.1 Billion

Wednesday, 5 Jun 2013 02:30am EDT 

Bayer AG announced that the Bayer Group has successfully completed tender offer for the outstanding shares of Conceptus, Inc., Mountain View, California. As of the expiration of the offer period last night, 31,983,536 shares were validly tendered and not withdrawn in the tender offer, representing approximately 96.4% of the currently outstanding shares - including 2,198,177 shares delivered through notices of guaranteed delivery, representing approximately 6.6% of the currently outstanding shares. Bayer has accepted for payment all shares validly tendered into and not withdrawn from the tender offer and will promptly make payment for such shares. As a result of the purchase of shares in the tender offer, a merger between Conceptus and a Bayer subsidiary is planned to be effected imminently, giving Bayer full ownership of Conceptus. The total value of the transaction amounts to approximately USD1.1 billion (equivalent to EUR852 million). 

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-3.35 -2.31%
3:59pm EDT