Merz Pharma Group announced today that the subsequent offering period of the tender offer by Merz GmbH & Co. KGaA (“Merz”) and its acquisition subsidiary to purchase all of the outstanding shares of common stock of BioForm Medical, Inc. (Nasdaq: BFRM) at a price of $5.45 per share, net to the seller in cash (without interest thereon and less any required withholding tax) expired as scheduled at 12:00 midnight, Eastern Standard Time, on February 18, 2010.
Based on final information from the depositary for the tender offer, 45,400,232 shares, representing approximately 95.7 percent of the outstanding shares of common stock of BioForm Medical, were validly tendered and not withdrawn prior to the expiration of the subsequent offering period. All such shares have been accepted for payment in accordance with the terms of the tender offer, and Merz has or will promptly pay for all such shares.
The acquisition of BioForm Medical will position Merz as a leading player in aesthetic medicine, a fast growing, multi-billion dollar global market. With its increased product offering and expanded reach, particularly in the United States, Merz will distinguish itself in the marketplace by its ability to offer dermal fillers based on three distinct technologies: RADIESSE® dermal filler, Belotero® and Novabel®. In addition to its broad dermal filler product offering, Merz will have the ability to offer its customers other innovative aesthetics products that are currently under development. Merz will now be able to offer its customers a wide range of high quality aesthetic treatment options, enabling healthcare professionals to achieve excellent patient results and satisfaction.
“This is a significant milestone in our more than 100 year-old history, as it establishes Merz as a leading player in aesthetic medicine,” said Dr. Jochen Hückmann, Chairman of the Merz Shareholders Council. “We are excited to have completed this transaction as we believe it represents a great opportunity for our customers, employees and the future of our company. With an increased product portfolio and development pipeline, we have an even brighter future ahead of us.”