The European Commission’s initial investigation period will expire on October 25, 2007, unless extended. U.S. antitrust clearance was already granted on September 17, 2007. Siemens expects to receive European merger control clearance and other regulatory approvals in time to close the transaction during calendar year 2007.
Joe Kaeser, Siemens CFO, stated: “We have made an attractive offer and do expect a smooth completion of the transaction after we have received full clearance from the antitrust authorities.”
As of midnight, New York City time, on Wednesday, September 26, 2007, an aggregate of 66,159,433 shares of common stock of Dade Behring had been validly tendered and not withdrawn, representing 82.55 percent of the outstanding common stock of Dade Behring.
While Siemens previously announced that it expected to close the transaction in the first calendar quarter of 2008, it now expects to close the transaction during the fourth quarter of calendar year 2007.
Following completion of the tender offer, any remaining shares of Dade Behring will be acquired in a merger at the same price. The transaction has a value of approximately $7 billion. The tender offer is being made by a subsidiary of Siemens pursuant to an Agreement and Plan of Merger, dated as of July 25, 2007, by and among Siemens Corporation, its subsidiary, Belfast Merger Co., and Dade Behring.-Siemens
