Lonza further extends tender offer for Arch Chemicals

Published: 30-Sep-2011

Requires antitrust clearance from US authorities


Lonza Group has extended the expiration date for its US$47.20 tender offer for Arch Chemicals to 14 October.

The Swiss chemicals supplier said its subsidiary LG Acquisition Group had agreed the new date with US-based Arch Chemicals because the ‘conditions to the tender offer are not expected to be satisfied by the previously scheduled expiration date’ of today (30 September).

The tender offer still requires antitrust clearance from the competition authority in the US. Antitrust clearances have already been obtained from the competition authorities in France and Germany.

The tender offer may be further extended if conditions remain unsatisfied, said Lonza.

As of the close of business on 28 September, Arch Chemicals’ shareholders had tendered approximately 8,918,584 shares and had instructed to be tendered an estimated 757,437 shares, together representing approximately 38.0% of the outstanding shares of Arch Chemicals’ common stock.

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