Completion of Cash Tender Offer of Adams
January 24, 2008
RECKITT BENCKISER ANNOUNCES COMPLETION
OF CASH TENDER OFFER FOR ALL OUTSTANDING SHARES OF
ADAMS RESPIRATORY THERAPEUTICS, INC.
Reckitt Benckiser Group plc (RB.L) ("Reckitt Benckiser") announced today that
it has completed its previously announced cash tender offer (the "Offer") for
all outstanding shares of common stock (the "Shares") of Adams Respiratory
Therapeutics, Inc. (NASDAQ: ARxT) ("Adams"). The Offer expired, as scheduled,
at midnight, New York City time, at the end of Wednesday, January 23, 2008. The
Offer was not extended.
A total of 34,623,895 Shares had been tendered and not withdrawn prior to the
expiration of the Offer, including 2,637,863 Shares subject to guaranteed
delivery procedures. Reckitt Benckiser has accepted for payment all validly
tendered Shares through its indirect wholly owned subsidiary, Twickenham Inc.
The Shares accepted for payment represent approximately 95.9% of the
outstanding Shares of Adams. Payment for these validly tendered Shares is
expected to be made promptly.
As the final step of the acquisition process, Reckitt Benckiser intends to
consummate a merger in which remaining Adams stockholders will receive the same
US$60.00 in cash per share paid in the Offer. Consummation of the merger is
expected to occur on January 29, 2008. Following the merger, Adams will become
an indirect wholly owned subsidiary of Reckitt Benckiser.
For Further Information
Reckitt Benckiser +44 (0) 1753 217 800
Mark Wilson Corporate Controller and Acting Head of Investor
Relations (investor queries)
Fiona Fong Head of Corporate Communications (press queries)
PR Agency
Susan Gilchrist Brunswick +44 (0) 207 404 5959
Cindy Leggett Flynn Brunswick New York +1 212 333 3810
Adams Respiratory
Therapeutics
Janet M. Barth SVP Investor Relations & +1 908 879 2428
Corporate Communications
Faith Pomeroy-Ward Sr. Manager Investor Relations +1 908 879 1418
& Corporate Communications
Notes for Editors
Reckitt Benckiser is a world leader in household cleaning, health and personal
care. The Company is truly global, with over 60 operating companies and some 43
manufacturing facilities worldwide and has sales in 180 countries. Reckitt
Benckiser employs 22,000 people around the world. Amongst the Company's leading
brands in household are Lysol, the world leader in disinfecting cleaning,
Calgonit & Finish & Electrasol, the world leaders in automatic dishwashing,
Woolite, world leader in fine fabrics, Vanish & Spray'nWash, world leaders in
fabric treatment, Airwick and Mortein, both No.2 brands in air care and pest
control respectively. In Health & Personal Care (25% of net revenues), leading
brand positions include Veet, the world number one depilatory and Dettol the
world's leading antiseptic, Nurofen, the leading European analgesic, Strepsils,
world number one in medicated sore throat, Gaviscon the No.1 gastro intestinal
remedy in UK and Lemsip the UK no.1. in cold/flu remedies.
Reckitt Benckiser is headquartered in Slough just outside London, UK and is
listed on the London stock exchange. Reckitt Benckiser had net revenues of £
4.92bn, operating profit of £910m, and net income of £674m in 2006.
About Adams Respiratory Therapeutics, Inc.
Adams is a specialty pharmaceutical company focused on the late-stage
development, commercialization and marketing of over-the-counter and
prescription pharmaceuticals for the treatment of respiratory disorders.