HEERLEN, NETHERLANDS--(Marketwire -05/21/12)- Royal DSM (DSM),the global Life Sciences and MaterialsSciences company, announced today that its indirect wholly-ownedsubsidiary,Biomedical Acquisition Corporation, has commenced its previously announcedtender 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 ofMerger, dated as of 2 May 2012, by and among DSM, Biomedical AcquisitionCorporation and Kensey Nash, which DSM and Kensey Nash announced on 3 May2012.
The Kensey Nash board of directors has unanimously determined that, amongotherthings, the offer is fair to and in the best interests of Kensey Nash'sstockholders and unanimously recommends that Kensey Nash's stockholdersacceptthe offer and tender their shares.
The tender offer is scheduled to expire at 12:00 midnight (New York Citytime)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 theOffer toPurchase, Letter of Transmittal and other related materials that will befiledby DSM and Biomedical Acquisition Corporation with the SEC on 21 May2012. Inaddition, on 21 May 2012, Kensey Nash will file aSolicitation/RecommendationStatement on Schedule 14D-9 with the SEC relating to the offer. Copiesof theOffer to Purchase, Letter of Transmittal and other relatedmaterials areavailable free of charge from MacKenzie Partners, Inc., the informationagentfor the tender offer, toll-free at (800) 322-2885. The depositary for thetenderoffer is Citibank, N.A.
Kensey Nash is a medical device company primarily focused onregenerativemedicine utilizing its proprietary collagen and synthetic polymertechnology.The company is recognized as a leader for innovative productdevelopment andunique technology in the field of resorbable biomaterials. The companyhas anextensive range of products, which are sold through strategicpartners inmultiple medical markets, including the cardiology, orthopedic, sportsmedicine,spine, trauma, craniomaxillofacial and general surgery markets. Formoreinformation, visit http://www.kenseynash.com.
DSM - Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition andmaterials. By connecting its unique competences in Life Sciences andMaterialsSciences DSM is driving economic prosperity, environmental progress andsocialadvances to create sustainable value for all stakeholders. DSM deliversinnovative solutions that nourish, protect and improve performance inglobalmarkets such as food and dietary supplements, personal care, feed,pharmaceuticals, medical devices, automotive, paints, electrical andelectronics, life protection, alternative energy and bio-based materials.DSM's22,000 employees deliver annual net sales of around EUR 9 billion. Thecompany islisted on NYSE Euronext. More information can be found at www.dsm.com.
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Source: DSM N.V. via Thomson Reuters ONE[HUG#1613188]