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The Managing Board and the Supervisory Board of SΓΌd-Chemie AG have published their joint statement on the takeover offer made to SΓΌd-Chemie AG shareholders by Clariant Verwaltungsgesellschaft mbH and on the offer document published on 17 May 2011. Applying various valuation methods, the Managing Board and the Supervisory Board of SΓΌd-Chemie AG have evaluated the compensation amounting to β¬126.38 per SΓΌd-Chemie share offered by the bidder, giving due consideration to both corporate and market aspects. The Managing Board and Supervisory Board were advised by the WestLB AG bank in DΓΌsseldorf which submitted a fairness opinion on the bid. Based on the analyses carried out, both the Managing Board and the Supervisory Board reach the conclusion in their joint statement that from a financial point of view, the amount of β¬126.38/share offered by the bidder, represents reasonable compensation.
π SIMILAR VOLUMES
At the Annual General Meeting of Clariant AG, held on 31 Mar 2011, the way was cleared for takeover of more than 95% of the shares in SΓΌd-Chemie AG. Clariant's shareholders voted in favour of a capital increase, which is a basic requirement for takeover of the SΓΌd-Chemie shares by Clariant. Part of
The deal is expected to bolster Elevance's abilities to supply valueadded products to more customers who use renewable feedstocks.