Wesel, October 22, 2009
SKion GmbH makes a new, improved Tender Offer for Acquisition of ALTANA Shares
Today SKion GmbH informed us about their decision to make a new, improved offer for the acquisition of shares in ALTANA AG and they have published this decision today according to § 10 section 1 of the Securities Acquisition and Takeover Act (German Wertpapiererwerbs- and Übernahmegesetz “WpÜG). SKion offers to acquire the shares for a purchase price of € 14.- per share in an acceptance period that is expected to last from mid-November to mid-December 2009. SKion GmbH is currently holding approx. 91.7% of the shares in ALTANA AG. Mrs Susanne Klatten is the sole shareholder of SKion GmbH. She is also acting as Vice Chairwoman in the Supervisory Board of ALTANA AG.
In November 2008 SKion GmbH had already made a voluntary public offer for the acquisition of shares in ALTANA AG to the shareholders of ALTANA AG. On the basis of this voluntary offer and by means of further acquisitions of shares SKion GmbH had been able to continuously increase its shareholding in ALTANA AG. SKion GmbH is currently holding 124,788,843 of the 136,097,896 shares of ALTANA AG corresponding to the 91.7% of the total share capital. With SKion GmbH´s announcement for a voluntary purchase offer in November 2008 the ALTANA share price rose by approx. 38% from 9.39 up to the level of the former offered purchase price of € 13.- per share. Since that time the share price has constantly been within a narrow range around this offered purchase price.
The Management Board and the Supervisory Board of ALTANA AG will thoroughly examine, and comment on the acquisition offer upon publication of the offer document.
This press release contains forward-looking statements, i.e. current estimates or expectations of future events or future results. These statements are based on beliefs of ALTANA as well as assumptions made by and information currently available to ALTANA. Forward-looking statements speak only as of the date they are made. ALTANA does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made.
ALTANA develops and produces high-quality innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel/Germany, is a genuine “global player” with 83% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastic processors, the printing and cosmetic industries, and the electrical and electronic industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins & varnishes, and testing and measuring instruments.
At present, the ALTANA Group has 33 production facilities and 46 service and research laboratories worldwide. Throughout the group 4,700 people work to ensure the success of ALTANA worldwide. In 2008 ALTANA achieved sales of about 1.3 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.