Rockwood Receives All Regulatory Approvals to Complete Talison Acquisition
PRINCETON, N.J.--(BUSINESS WIRE)-- Rockwood Holdings, Inc. (ROC), a global producer of specialty chemicals and advanced materials, today announced that the government of Australias Foreign Investment Review Board has given its approval for the acquisition of Talison Lithium Limited (TXS: TLH) by Rockwood.
In making the announcement, Rockwoods Seifi Ghasemi, Chairman and Chief Executive Officer, said, With this approval, Rockwood has obtained all regulatory approvals and is therefore prepared to close the acquisition of Talison as planned in mid-December. We are aware of the so-called competing bid by another party. Rockwood has no intention of engaging in a bidding process for the acquisition of Talison.
The C$6.50 Canadian per share that we presented to Talison is our best and final offer. We are confident that the Talison shareholders, when they meet on November 29, will vote in favor of our proposal, which provides deal certainty for the Talison shareholders. Rockwood has the cash in hand for the acquisition, and now it also has all regulatory approvals. A vote against the deal would be a lost opportunity for the Talison shareholders and could leave them without any transaction.
Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 10,300 people and annual net sales of approximately $3.7 billion. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
The information set forth in this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Holdings, Inc. and its subsidiaries and affiliates (Rockwood). Words such as anticipates, believes, estimates, expects, forecasts, predicts and variations of such words or expressions are intended to identify forward-looking statements. Although Rockwood believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward-looking statements consist of all non-historical information, including any statements referring to the prospects and future performance of Rockwood, including without limitation, the payment of future dividends. Actual results could differ materially from those projected in Rockwoods forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the Risk Factors described in Rockwoods periodic reports on file with the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Rockwood Holdings, Inc.
Timothy McKenna, 609-734-6430
Source: Rockwood Holdings, Inc.Copyright Business Wire 2012