Based on the recent financial results of GIB, Ackermans & van Haaren N.V. increases its bid on GIB from â‚¬ 41 to â‚¬ 42 per share.
As announced on 13 September 2002, Ackermans & van Haaren has notified the Banking and Finance Commission of its intention to launch a voluntary public take-over bid on all 27.599.800 shares of GIB against a price of â‚¬ 41 per share, coupon nr 19 and following attached. This bid was based upon publicly available information.
As a result of the bid, GIB has, on 17 September 2002, prematurely released its half yearly results, including a pro forma balance sheet as at 31 July 2002 (hereafter the â€œPro Forma Balance Sheetâ€).
In the meantime, the board of directors of Ackermans & van Haaren has taken note of this newly released information. The board of directors has noted that the net equity reflected in the Pro Forma Balance Sheet amounts to â‚¬ 1,276.4 whereas the net equity position in the liquidation statement as at 31 March 2002, published by GIB on 24 April 2002, amounted to â‚¬ 1,227.1. The liquidation statement was prepared in a hypothesis of discontinuity, whereas the Pro Forma Balance Sheet was prepared on the basis of going concern.
On the basis of this new information, the board of directors of Ackermans & van Haaren N.V. has decided to improve its offer to the shareholders of GIB and to increase the price per ordinary or VVPR share (coupon nr 19 and following attached) to â‚¬ 42.
The other terms and conditions of the bid, as mentioned in the notification of 13 September 2002 to the Banking and Finance Commission, remain unchanged.
Today, Ackermans & van Haaren has notified the amendment of its bid to the Banking and Finance Commission.
(source: Ackermans & van Haaren)