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Siemen's open offer for Bayer Diagnostics shareholders

Written by: Staff
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New Delhi, July 3 (UNI) JP Morgan India on behalf of Siemens AG announced today to the shareholders of Bayer Diagnostics India to acquire upto maximum of 313,470 equity shares of Rs 10 each of the Bayer.

These shares represent up to 20 per cent of the outstanding voting equity share capital of Bayer at a price of Rs 629.45 per offer share payable in cash.

This has taken place according to rule 20 and 21 of the Takeover Regulations. If the aggregate of the valid responses to the offer exceeds the offer size of 313,470 equity shares, then the acquirer shall accept the equity shares received on a proportionate basis in accordance with rule 21(6) of the Takeover Regulations.

UNI ARB VJ RAI2013

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