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[February 2006]
Degussa Board Recommends Acceptance of RAG Tender Offer
On 8 February 2006, the Management Board and Supervisory Board of Degussa AG (Duesseldorf, Germany) submitted a joint statement in which they said they believed that RAG's offer price of 42.00 euro per share was reasonable. Based upon the intentions expressed by RAG (Essen, Germany) with respect to Degussa, they said they expected even after consummation of the tender offer to be able to continue implementation of the chosen strategy of profitable growth "steadfastly" with the full support of RAG.
The Boards duly recommended that Degussa shareholders accept the tender offer and tender their Degussa shares for sale in connection with the tender offer. The Boards' members said that they intended, as at statement date, to accept the tender offer as well. Additionally, the Degussa Works Council likewise welcomed the tender offer in an independent position statement.
In fiscal 2004, Degussa's 45,000 employees world-wide generated sales of 11.2 billion euro and operating profits (EBIT) of 965 million euro.
www.degussa.com
ENDS