RECKITT & COLMAN PLC
29 September 1999
Not for release, publication or distribution, in whole or
in part, in or into the United States, Canada, Australia
or Japan.
Proposed merger of Reckitt & Colman and Benckiser
Extension of Offer Period
The Boards of Reckitt & Colman plc and Benckiser NV
announce that the closing date of the Offer by Reckitt
Benckiser Holdings B.V., a subsidiary of Reckitt &
Colman, for Benckiser B shares has been further extended
from 30th September, 1999 until 17 November 1999. The
extension is necessary because the Federal Trade
Commission (FTC) in the United States has not yet
concluded its review of the merger.
Reckitt & Colman and Benckiser made their original
submission to the FTC on 30 July, shortly after the
announcement of the merger. In the course of September,
the FTC indicated concern about the overlap (between
Reckitt & Colman and Benckiser) involving two non-core brands
in two categories in the US, representing approximately
one half of one per cent. of the combined revenues of the
enlarged group.
A formal sale process is well under way with a view to
concluding a disposal of the brands. However, it is not
yet possible to say when the terms of a consent decree
can be agreed with the FTC.
A further announcement will be made as soon as it is
clear when completion of the merger can take place.
Although the Offer has been extended until 17 November
1999, the Offer Period may be closed on three days'
notice by Reckitt Benckiser Holdings B.V. by an
announcement to that effect.
These materials relate to the Offer and are not an
extension of a tender offer in the United States or to
any US person for any class of equity securities in
Benckiser. The Offer will not be made, directly or
indirectly, in, or by use of any means of instrumentally
of interstate commerce or of the mails, or of any
facility of any national securities exchange of, the
United States (including its possessions or territories,
any area subject to its jurisdiction and any political
subdivision thereof) or to any US person and cannot be
accepted by any such use or otherwise from within the
United States or by any US person. Any purported
acceptance of the Offer involving, directly or
indirectly, any such means, instrumentality, mails or
facility or otherwise from within the United States or by
any US person will be deemed invalid.
None of the securities offered as consideration will be
registered under the United States Securities Act of
1933, as amended (the 'Act'). Accordingly, such
securities may not be offered, sold or delivered in the
United States or to US persons, unless an exemption from
the registration requirements of the Act is available.
This announcement and related materials do not constitute
an offer of Reckitt & Colman Shares.
For further information
David Saltmarsh 44 1753 746676
Company Secretary
Reckitt & Colman plc
Tom Corran
SVP Corporate Communications 31 20 405 7534
Benckiser N.V.
Bobby Leach 44 171 905 2537
Shandwick
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.