Go-ahead for Schering's integration into the Bayer Group
EUR 89.36 cash compensation offer to Schering's outside stockholders
The domination and profit and loss transfer agreement was entered in the commercial register on October 27, 2006. Pursuant to this agreement, Bayer Schering GmbH is offering the outside stockholders of Schering AG cash compensation of EUR 89.36 per share. The amount of the offer corresponds to the weighted average price of Schering stock over the three-month period immediately preceding the Extraordinary Stockholders' Meeting of September 13, 2006, including the price on September 13 itself. Further details regarding the cash compensation offer will be announced in the near future. Schering stockholders who choose not to sell their shares will receive an annual guaranteed dividend of EUR 3.62 (net) per share.
Dritte BV GmbH had previously been renamed "Bayer Schering GmbH." The Bayer Group holds its shares in Schering AG through this wholly owned subsidiary. It is planned to apply in December for the renaming of Schering AG to "Bayer Schering Pharma AG" to be entered in the commercial register.
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