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Unilever NV. (30KU)

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Monday 11 September, 2000

Unilever NV.

Regulatory Approval

Unilever NV
Unilever PLC
11 September 2000


UNILEVER/BESTFOODS MERGER
H-S-R REVIEW PERIOD EXPIRES

 
Unilever and Bestfoods today announced that the waiting period under the U.S.
Hart-Scott-Rodino Act has expired, effectively clearing the transaction by
the U.S. Federal Trade Commission.
 
The waiting period under the Hart-Scott-Rodino Act refers to the time, after
the parties to a merger have filed notification forms, during which they are
not allowed to complete the proposed transaction. Now the H-S-R waiting
period has expired, the transaction can be consummated under US anti-trust
legislation.
 
This is an important step in the approval process of the Unilever/Bestfoods
merger. The Bestfoods merger agreement remains subject to certain other
conditions, including regulatory approval from the European Commission.
Negotiations are continuing with the EU Commission in accordance with the
anticipated timetable. A decision is expected by the end of September.
 
The merger is also subject to the approval of the proposed transaction by the
shareholders of Bestfoods, Unilever N.V. and Unilever PLC. The Bestfoods and
Unilever shareholders meetings are scheduled for 2 October 2000.
 
On 6 June, Unilever agreed to acquire all outstanding shares of Bestfoods for
US$ 73 per share in cash.

Enclosure: Safe Harbor Statement under the Private Securities Litigation
Reform Act.
 
Enclosure 
 
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This press release contains certain 'forward-looking' statements within
the meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are naturally
subject to uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained herein. The forward-looking
statements contained herein include statements about completion of the
pending acquisition of Bestfoods by Unilever. Factors that could cause actual
results to differ materially from those described herein include: the
inability to obtain necessary antitrust approvals and actions of the U.S.,
foreign and local governments. More detailed information about these factors
is set forth in the reports filed by Bestfoods and furnished by Unilever with
the Securities and Exchange Commission. Neither Unilever nor Bestfoods is
under any obligation to (and expressly disclaims any such obligation to)
update or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
 
In connection with the merger, Bestfoods has filed a definitive proxy
statement with the Securities and Exchange Commission and mailed copies of
this definitive proxy statement to Bestfoods security holders. Security
holders of Bestfoods are urged to read the proxy statement because it
contains important information regarding the merger. Investors and security
holders may obtain a free copy of the proxy statement and other documents
filed by Bestfoods with, and furnished by Unilever to, the Securities and
Exchange Commission in
connection with the merger at the Securities and Exchange Commission's
web-site
at www.sec.gov. Security holders of Bestfoods may also obtain for free a copy
of the proxy statement and other documents filed with the Securities and
Exchange Commission by Bestfoods in connection with the merger by contacting
Rainer H. Mimberg, Investor Relations, +1 201 894 2837. Security holders of
Bestfoods may also obtain for free copies of documents furnished to the
Securities and Exchange Commission by Unilever in connection with the merger
by contacting Howard Green, Investor Relations, +44 207 822 6824.
 




                                         

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