USA :Unilever Completes Ben & Jerry's Homemade Tender Offer
Unilever today announced that its tender offer through a subsidiary to acquire all of the outstanding shares of Class A and Class B common stock of Ben & Jerry's Homemade, Inc. at a purchase price of $43.60 per share in cash expired at 12:00 midnight on Monday, May 15, 2000. Approximately 5.7 million shares (or 89% of the outstanding shares) of the Class A common stock, and approximately 714 thousand shares (or 90% of the outstanding shares) of Class B common stock were validly tendered and accepted for payment. Payment for such shares will be made promptly. In addition, Unilever has received Notices of Guaranteed Delivery with respect to approximately 176 thousand shares (or 3% of the outstanding shares) of the Class A common stock, and approximately 18 thousand shares (or 2% of the outstanding shares) of Class B common stock. Pursuant to the terms of the tender offer, shares of common stock listed in a Notice of Guaranteed Delivery must be validly tendered within 3 trading days following the delivery of such notice in order to be accepted for payment. Any shares of Class B Common Stock not validly tendered will be automatically converted into shares of Class A common stock on or about May 25. Unilever will now proceed to acquire the remaining outstanding shares of common stock of Ben & Jerry's Homemade, Inc. through a second step merger in which shares of common stock not purchased in the tender offer will be converted, upon completion of the merger, into the right to receive $43.60 per share in cash. Unilever and Ben & Jerry's Homemade, Inc. entered into a definitive merger agreement on April 11, 2000 whereby a subsidiary of Unilever United States, Inc. would acquire all of the outstanding shares of common stock of Ben & Jerry's Homemade, Inc. for a cash price of $43.60 per share.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Danone eyes efficiency, agility with new structure
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone sales dampened by Europe, China