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Offer Talks Terminated

18th Mar 2010 16:50

RNS Number : 8281I
Consort Medical PLC
18 March 2010
 



 

 

 

Consort Medical plc

 

18 March 2010

 

Rule 2.8 Announcement

 

Consort Medical plc ("Consort") notes its announcements on 26 February and 2 March 2010 concerning a possible offer for Advanced Medical Solutions Group plc ("AMS"). AMS has rejected both indicative approaches made by Consort and has refused to grant Consort access to due diligence. Consort is unwilling to improve the terms of its indicative approaches, without the opportunity to undertake due diligence, and consequently has terminated all discussions with AMS.

 

For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers (the "Code"), Consort reserves the right to announce, make or participate in an offer or possible offer for AMS (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months following the date of this announcement: (i) following the announcement by or on behalf of a third party of a merger with or an offer for or a possible offer for AMS; (ii) with the agreement or recommendation of the board of directors of AMS; (iii) following the announcement by or on behalf of AMS of a "whitewash" proposal (for the purposes of Note 1 on the dispensation from Rule 9 of the Code) or a reverse takeover; or (iv) if there is a material change in circumstances.

 

 

Enquiries:

 

Consort Medical plc

Jonathan Glenn, Chief Executive

Tel: +44 (0) 1442 867920

Toby Woolrych, Group Finance Director

Evercore Partners Limited

Bernard Taylor

Julian Oakley

Tel: +44 (0)20 7268 2700

Brunswick

Jon Coles

Justine McIlroy

Will Carnwath

Tel: +44 (0) 20 7404 5959

 

 

Consort Medical plc is a leader in medical devices for inhaled drug delivery and anaesthesia. The Group develops drug delivery systems for the pharmaceutical industry and disposable airway management products for critical care settings in hospitals.

Consort Medical develops and manufactures metered dose inhaler valves, actuators, compliance aids, dry powder devices, disposable facemasks, breathing circuits and laryngeal tubes. The Group has facilities in King's Lynn, Sheffield and Hemel Hempstead in the UK, Indianapolis, Indiana and Kent, Ohio in the US, and Mumbai, India. Consort Medical is a public company quoted on the full list of the London Stock Exchange (LSE: CSRT).

 

 

Evercore Partners Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Consort and for no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than Consort for providing the protections afforded to clients of Evercore Partners Limited or for providing advice in relation to the matters set out in this announcement.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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