DSM Achieves Final Regulatory Green Light for Martek Acquisition
This was the final clearance needed under applicable antitrust and competition laws and this condition of the Offer is thus completely satisfied.
2/18/2011 --- Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in the Netherlands, announces that it has received the unconditional clearance of the Counsel of the National Competition Commission in Spain for its previously announced tender offer for all outstanding shares of common stock of Martek Biosciences Corporation at a price of $31.50 per share. This was the final clearance needed under applicable antitrust and competition laws and this condition of the Offer is thus completely satisfied.
The Offer remains subject to the satisfaction of certain other conditions. The Offer is scheduled to expire at 5:00 p.m. (New York City time) on Friday, 18 February 2011, unless the Offer is extended.
Martek is a leader in the innovation, development, production and sale of high-value products from microbial sources that promote health and wellness through nutrition. Martek’s technology platform consists of its core expertise, broad experience and proprietary technology in areas such as microbial biology, algal genomics, fermentation and downstream processing. This technology platform has resulted in Martek’s development of a number of products, including the company’s flagship product, life’sDHA, a sustainable and vegetarian source of algal DHA (docosahexaenoic acid) important for brain, heart and eye health throughout life for use in infant formula, pregnancy and nursing products, foods and beverages, dietary supplements and animal feeds.
Martek also produces life’sARA (arachidonic acid), an omega-6 fatty acid, for use in infant formula and follow-on formulas. Martek’s subsidiary, Amerifit Brands, develops, markets and distributes branded consumer health and wellness products and holds leading brand positions in all of its key product categories. Amerifit products are sold in most major mass, club, drug, grocery and specialty stores and include: Culturelle, a leading probiotic supplement; AZO, the leading OTC brand addressing symptom relief and detection of urinary tract infections; and Estroven, the leading all-natural nutritional supplement brand addressing the symptoms of menopause.
Royal DSM N.V. and Martek Biosciences Corporation announced that they had entered into a definitive agreement under which DSM will acquire all the outstanding shares of common stock of Martek for US$31.50 in cash per share for total consideration of US$1,087 million in December 2010.
