HEERLEN, NETHERLANDS--(Marketwire -05/21/12)- Royal DSM (DSM), the global Life Sciences and Materials Sciences company, announced today that its indirect wholly-owned subsidiary, Biomedical Acquisition Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Kensey Nash (KNSY) at a price of $38.50 per share (the "Offer").
The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of 2 May 2012, by and among DSM, Biomedical Acquisition Corporation and Kensey Nash, which DSM and Kensey Nash announced on 3 May 2012.
The Kensey Nash board of directors has unanimously determined that, among other things, the offer is fair to and in the best interests of Kensey Nash's stockholders and unanimously recommends that Kensey Nash's stockholders accept the offer and tender their shares.
The tender offer is scheduled to expire at 12:00 midnight (New York City time) at the end of Monday, 18 June 2012, unless the offer is extended.
Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and other related materials that will be filed by DSM and Biomedical Acquisition Corporation with the SEC on 21 May 2012. In addition, on 21 May 2012, Kensey Nash will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC relating to the offer. Copies of the Offer to Purchase, Letter of Transmittal and other related materials are available free of charge from MacKenzie Partners, Inc., the information agent for the tender offer, toll-free at (800) 322-2885. The depositary for the tender offer is Citibank, N.A.
Kensey Nash is a medical device company primarily focused on regenerative medicine utilizing its proprietary collagen and synthetic polymer technology. The company is recognized as a leader for innovative product development and unique technology in the field of resorbable biomaterials. The company has an extensive range of products, which are sold through strategic partners in multiple medical markets, including the cardiology, orthopedic, sports medicine, spine, trauma, craniomaxillofacial and general surgery markets. For more information, visit http://www.kenseynash.com.
DSM - Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 22,000 employees deliver annual net sales of around EUR 9 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com.
Press release-pdf: http://hugin.info/130663/R/1613188/513653.pdf
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DSM N.V. via Thomson Reuters ONE [HUG#1613188]