Copenhagen, 2016-06-03 13:37 CEST (GLOBE NEWSWIRE) -- QIAGEN N.V., Company reg. no. 804803778 (“QIAGEN”), published a Recommended Public Conditional Voluntary Offer on 19 April 2016 (the "Offer") to the shareholders of Exiqon A/S, Company reg. no. (CVR) 18984431 (“Exiqon”). QIAGEN extended the Offer Period, according to the Offer, on 19 May 2016. According to the Offer, the extended Offer Period expired yesterday on 2 June 2016 at 23.59 (CET).
In accordance with Section 9 and 21 of the Danish Takeover Order and as set forth in the Offer Document, QIAGEN hereby announces the preliminary result of the Offer and QIAGEN’s decision to extend the Offer Period until 20 June 2016 at 23.59 (CET). All other terms and conditions of the Offer are unchanged.
The preliminary and non-binding counting of the acceptances shows that QIAGEN in total has received acceptances from shareholders in Exiqon representing 89.21% of the share capital and voting rights in Exiqon.
The extension of the Offer Period and the conditions thereof is set out in the attached second supplement to the Offer Document.
As described in the Offer Document, Lars Kongsbak and Hans Henrik Chrois Christensen, both members of the Executive Management of Exiqon, hold in aggregate 4,021,959 warrants in Exiqon convertible into 4,021,959 shares in Exiqon. Such warrants are expected to vest immediately upon a completion, if any, of the Offer and can either be settled in cash or in shares depending on the decision by the board of directors. QIAGEN has received irrevocable undertakings from both Mr. Lars Kongsbak and Mr. Hans Henrik Christensen stating that they will tender any newly issued shares to QIAGEN at the Offer Price in case the board of directors decides that such warrants should be settled in shares. Consequently, QIAGEN is in the process of reaching an agreement with Exiqon that entitles QIAGEN to demand that such warrants are settled in shares.
In case QIAGEN reaches such an agreement with Exiqon, QIAGEN reserves to lower its 90 % acceptance condition and complete the Offer with a lower acceptance ratio than 90 % as a share settlement of the warrants, if any, will have the effect that QIAGEN will hold above 90 % of the shares and votes in Exiqon once the warrants are settled.
" We have made a compelling and fair offer that is not only appreciated by Exiqon’s board of directors and its largest shareholders”, said Peer Schatz, CEO of QIAGEN. “During the first extension period, additional retail shareholders also have recognized that the offer values the company appropriately and have tendered their shares. We extend the offer one more time and trust that in the end we will reach the 90 % acceptance rate necessary to complete the transaction.”
Unless the Offer Period is once more extended, QIAGEN will announce the preliminary result of the Offer through the Danish FSA, NASDAQ Copenhagen and through electronic media no later than eighteen hours after expiry of the Offer Period, i.e. on 21 June 2016. The Offeror will announce the final result of the Offer on or before 24 June 2016, which is three days after the completion of the Offer. See Section 21(3) of the Danish Takeover Order.
Definitions applied but not specified in this announcement shall have the same meaning as set out in the Offer Document.
