Information  X 
Enter a valid email address

Medeva PLC (MDV)


Friday 17 September, 1999

Medeva PLC

Offer Talks Terminated

17 September 1999

                       MEDEVA PLC
Following a movement in its share price Medeva announced on 8th
September that it was in discussions with a third party which
might or might not lead to a recommended cash offer.  It has not
been possible to reach agreement on the terms of such an offer and
accordingly discussions have now been terminated.

The Board of Medeva would have been prepared to recommend an offer
which it judged fairly took account of the human and physical
infrastructure which Medeva has developed in the US and Europe;
the contribution of its existing products; the potential value of
the new product pipeline; the further development potential of the
business; and any net integration benefits which might arise.  In
the event, the proposal received turned out to be at an
opportunistic price which the Board, advised by Lazard Brothers,
had no hesitation in rejecting.

Commenting, John Baker, Chairman of Medeva said:

'We continue to believe in our future as an independent company,
the coherence of our strategy and its capacity to deliver
shareholder value.  We have been prepared to consider other
options, but we have no need to be bounced into a deal which fails
to do justice to our shareholders.'


Medeva PLC                              Tel: 0171 839 3888
Dr Bill Bogie, Chief Executive
Garry Watts, Finance Director

Lazard Brothers & Co., Limited          Tel: 0171 588 2721
Christopher Fisher

Brunswick                               Tel: 0171 404 5959
James Bradley

Lazard Brothers, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting exclusively
for Medeva and no one else in connection with the proposal and
will not be responsible to anyone other than Medeva for providing
the protections afforded to the customers of Lazard Brothers nor
for providing advice in relation to the proposal or any other
matter referred to herein.


a d v e r t i s e m e n t