DSM Commences Tender Offer for Martek Biosciences Corporation
Royal DSM N.V. announced that its indirect wholly-owned subsidiary, Greenback Acquisition Corporation, has commenced its tender offer for all outstanding shares of common stock of Martek Biosciences Corporation at a price of $31.50 per share.
The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of 20 December 2010, by and among DSM, Greenback Acquisition Corporation and Martek, which DSM and Martek announced on 21 December 2010.
The Martek board of directors has unanimously determined that, among other things, the offer is fair to and in the best interests of Martek's stockholders and unanimously recommends that Martek's stockholders accept the offer and tender their shares.
The tender offer is scheduled to expire at 5:00 p.m. (New York City time) on Friday, 18 February 2011, unless the offer is extended.
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