Business & Finance
Sanofi declares Kiadis offer unconditional
14 April 2021 -

French pharmaceutical company Sanofi (Euronext: SAN and NYSE: SNY) and Netherlands-based Kiadis (Euronext Amsterdam and Brussels: KDS) announced on Tuesday that a total of 95.03% of the Kiadis shares on a Fully Diluted basis have been tendered or irrevocably committed to be delivered to Sanofi at settlement under the offer by Sanofi.

Sanofi declares the offer unconditional (doet gestand) now all offer conditions described in the offer memorandum have either been satisfied or waived. As a result of the adoption of the Post-Offer Restructuring Resolution at the Kiadis extraordinary meeting of shareholders (EGM) of 30 March 2021, under the terms and subject to the conditions of the offer, the Acceptance Threshold is 80% (and not 95%) of Kiadis' aggregate issued and outstanding ordinary share capital on a fully diluted basis, as of the time and date on which the offer expires.

During the Acceptance Period, that expired at 17:40 (CET) on 12 April 2021, 39,860,388 shares were tendered under the offer, representing approximately 92.9% of the aggregate issued and outstanding ordinary share capital of Kiadis as of the announcement date and an aggregate value of approximately EUR217,239,114.60 (for an Offer Price of EUR5.45 (cum dividend) per Share).

Upon Settlement the changes to the composition of the Kiadis Supervisory Board and Management Board, as approved by the EGM on 30 March 2021, will become effective.