Chiron Receives European Commission Approval for Proposed Merger With Novartis
07 Februar 2006 - 3:00AM
Business Wire
Chiron Corporation (NASDAQ:CHIR) today announced that on February
6, 2006, the European Commission adopted a decision pursuant to
Article 6(1)(b) of the Council Regulation (EC) No. 139/2004
declaring the combination compatible with the common market. This
follows approval by the U.S. Federal Trade Commission (FTC) in
December 2005 and clearance by the Committee on Foreign Investment
in the United States (CFIUS) under Exon-Florio in January 2006.
Subject to stockholder approval and other customary conditions,
Chiron and Novartis expect that this transaction will be completed
in the first half of 2006. About Chiron Chiron delivers innovative
and valuable products to protect human health by advancing
pioneering science across the landscape of biotechnology. The
company works to deliver on the limitless promise of science and
make a positive difference in people's lives. For more information,
please visit www.chiron.com. This news release contains
forward-looking statements that involve risks and uncertainties and
are subject to change. In particular, there can be no guarantee
that the transaction contemplated by the merger agreement will be
consummated. A discussion of the company's operations and financial
condition, including factors that may affect its business and
future prospects that could cause actual results and developments
to differ materially from those expressed or implied by any
forward-looking statements, is contained in documents the company
has filed with the SEC, including the Form 10-K for the year ended
December 31, 2004, and the Form 10-Q for the quarter ended
September 30, 2005, and will be contained in all subsequent
periodic filings made with the SEC. These documents identify
important factors that could cause the company's actual performance
to differ from current expectations. Chiron does not undertake an
obligation to update the forward-looking information the company is
giving today. RULE 14a-12 LEGEND Participants in Solicitation
Chiron Corporation and Novartis AG and their respective directors
and officers may be deemed to be participants in the solicitation
of proxies from Chiron shareholders in connection with the merger.
Information about the directors and executive officers of Chiron
and their ownership of Chiron's stock is set forth in the proxy
statement for Chiron's 2005 Annual Meeting of Shareholders.
Investors can obtain more information when the Schedule 13e-3 and
the proxy statement become available. Investors should read the
Schedule 13e-3 and proxy statement carefully when they become
available before making any voting decision.
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