Pure World (NASDAQ:PURW)
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Naturex S.A. (Paris Bourse Eurolist C: FR000054694 NRX)
and Pure World, Inc. (Nasdaq: PURW) jointly announced today the
completion of Naturex's cash tender offer for all the issued and
outstanding shares of common stock of Pure World, Inc. at a price of
$4.30 per share. The offer expired at midnight, New York City time, on
Friday, July 15, 2005. The offer has not been extended.
Based on information provided by American Stock Transfer & Trust
Company, the depositary for the tender offer, a total of 7,504,394
shares of Pure World, Inc. were tendered (including a total of 5,626
shares tendered by notice of guaranteed delivery). This number of
shares represents approximately 92.78 % of the outstanding shares of
Pure World, Inc. on a fully diluted basis. Naturex S.A., through its
wholly-owned subsidiary Naturex Acquisition Corp., has accepted for
payment all shares validly tendered and not properly withdrawn prior
to the expiration of the offer. Payment for such shares will be made
promptly.
Naturex S.A. will acquire the remaining outstanding shares of Pure
World, Inc. through a short form merger in which each such share of
Pure World, Inc. will be converted into the right to receive $4.30 in
cash, without interest thereon, the same consideration paid for the
shares tendered in the offer, subject to dissenters' rights.
The success of the tender offer will allow closing of the
acquisition during this week. Naturex S.A. anticipates that the
synergies created by the combination of Naturex S.A. and Pure World,
Inc. will establish a major player in this business sector.
About Our Companies
Naturex S.A. manufactures and sells 100% natural ingredients for
the food, flavor and nutraceutical industries. Naturex S.A. is a
preferred provider to the food, flavor and nutraceutical industries
and has experienced rapid, regular growth since its establishment in
1992. Naturex is based in Avignon, France and is an international
company with nearly 90% of its sales coming from 30 countries outside
France. Currently, more than 50% of Naturex's sales are derived from
the United States market. It has facilities in France, Morocco and the
United States and a representative office in Singapore.
Pure World, Inc., through its wholly-owned subsidiary, Pure World
Botanicals, Inc., develops, manufactures and sells natural ingredients
that principally are derived from plant materials (referred to also as
botanicals or herbs) using its proprietary extraction, purification
and granulation technologies. Pure World, Inc. has produced more than
one thousand botanical extracts which are used by the cosmetic, food
and flavor, nutraceutical and pharmaceutical industries to manufacture
finished products for the consumer market.
NATUREX has been listed in Paris since October 1996
Eurolist C 54694 - Reuters NATU.LN - Bloomberg NTRX
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