Close Brothers Corporate Finance Statement on Tender Offer for Preference Shares in Wella AG 'Wella' by Procter & Gamble Germany Management GmbH 'P&G'.Business Editors LONDON--(BUSINESS WIRE)--June 20, 2003 Close Brothers Corporate Finance Limited ("Close Brothers") is working with a group of Wella Wella is one of the world’s leading cosmetics suppliers. Founded in 1880 by Franz Stroher, with its headquarter in Darmstadt, Germany, the company is represented in over 150 countries. Preference Shareholders that collectively owns or controls approximately 8.31 million Wella Preference Shares equivalent to 35.5% of the Wella Preference Shares. This group of Wella Preference Shareholders believes strongly that the terms of the Tender Offer being made by P&G for the Wella Preference Shares ("P&G Offer") do not offer adequate consideration to the Wella Preference Shareholders. In light of P&G's refusal to improve the terms of the P&G Offer, this group of Wella Preference Shareholders wishes to announce that they will not be tendering the above number of Wella Preference Shares prior to the final closing date for the P&G Offer at 12.00 midnight CET CET abbr. Central European Time CET Central European Time CET n abbr (= Central European Time) → hora de Europa central CET abbr on Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant 20th June June: see month. 2003. Close Brothers Corporate Finance Limited, which is regulated in the United Kingdom by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. , is acting exclusively for the unofficial un·of·fi·cial adj. Of or being a drug that is not listed in the United States Pharmacopeia or the National Formulary. committee of Wella Preference Shareholders and no one else in connection with this matter and will not be responsible to anyone other than the Unofficial Committee of Wella Preference Shareholders for providing the protections afforded to customers of Close Brothers Corporate Finance Limited nor for providing advice in relation to this matter. This announcement does not constitute and should not be interpreted as a proxy solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual , nor as a solicitation to buy or sell securities in Wella or P&G (or any of their respective subsidiaries or ultimate parent companies).The purpose of this announcement is merely to communicate to the investor community the dissatisfaction of the Unofficial Committee of Wella Preference Shareholders with the terms of the P&G Offer. This announcement is not an invitation or recommendation to accept or not to accept the P&G Offer. Furthermore, each member of the Unofficial Committee of Wella Preference Shareholders reserves the right in the final instance to act in its own best interests and in the best interests of its fiduciaries with respect to the P&G Offer. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion