Navigation Links
CSL Limited and Talecris Biotherapeutics Agree to Terminate Merger Agreement
Date:6/8/2009

MELBOURNE, Australia and RESEARCH TRIANGLE PARK, N.C., June 8 /PRNewswire/ -- CSL Limited (ASX: CSL) and Talecris Biotherapeutics, Inc. announced today that they have mutually agreed to terminate their merger agreement, announced on August 12, 2008, under which CSL agreed to acquire Talecris for US$3.1 billion in cash.

Dr. Brian McNamee, CEO and Managing Director of CSL Limited, said, "We are disappointed that the U.S. Federal Trade Commission (FTC) resolved to block the transaction. As we have previously stated we fundamentally disagree with the FTC case and matters included in their complaint. Although we continue to believe in the many customer benefits and significant financial synergies that supported the transaction, CSL's Board of Directors did not believe that entering into a protracted litigation process with the FTC, with its inherent risks, substantial costs, and lengthy distraction of CSL management and staff from planning and running our businesses would be in the best interests of our stakeholders."

Dr. McNamee continued, "While we regret that the transaction cannot be completed, CSL remains a well positioned global biopharmaceutical business and will continue to expand on its core strengths. We have consistently produced year-on-year growth for our shareholders and we are confident in the continued value and growth potential of our stand-alone business. We continue to have great respect for Talecris and wish them well in the future."

Lawrence D. Stern, Talecris' Chairman and Chief Executive Officer, said, "After discussions with CSL, we have mutually agreed that litigation regarding the antitrust issue was not the path forward. Based on a careful analysis of the situation and all alternatives available, we believe that termination of the merger agreement is in the best interest of all parties. We are disappointed that patients will not benefit from the efficiencies we saw in the proposed combination. Talecris continues to focus on its patient community and customers, and on building and realizing value for its employees and owners. Through the process, we developed an even greater appreciation for CSL's competencies, professionalism and integrity, and we wish Brian and his team well in their future endeavors."

Both parties will fulfill their obligations for termination contained in the merger agreement. As part of the agreement, CSL will pay Talecris a US$75 million break fee, and the plasma supply contract the parties entered into in connection with the merger agreement will remain in effect.

CSL and Talecris remain highly committed to their respective customers and patient communities.

About CSL

Headquartered in Melbourne, Australia, with major facilities in Germany, Switzerland and the U.S., CSL has more than 10,000 employees working in 27 countries. The CSL Group has a combined heritage of outstanding contribution to medicine and human health with more than 90 years experience in the development and manufacture of vaccines and plasma protein biotherapies. In fiscal 2008, the company produced revenues of approximately A$3.8 billion. www.csl.com.au

About Talecris

Talecris Biotherapeutics, with revenues of approximately US$1.4 billion in 2008 and headquartered in Research Triangle Park, North Carolina is a global biotherapeutic and biotechnology company that discovers, develops and produces critical care treatments for people with life-threatening disorders in a variety of therapeutic areas including immunology, neurology, pulmonology, and hemostasis. www.talecris.com

    CSL Media Contacts:
    Australia
    Dr. Rachel David
    Director, Public Affairs
    Tel: +61 3 9389 1821
    Email: rachel.david@csl.com.au

    Tim Duncan
    Hinton & Associates
    Tel: +61 3 9600 1979
    Email: tduncan@hintons.com.au

    United States
    Stan Neve & Robin Gilliland
    Brunswick Group
    Tel: +1 212 333 3810
    Email: sneve@brunswickgroup.com

    CSL Investor Contact:
    Mark Dehring
    Head of Investor Relations
    CSL Limited
    Tel: +61 3 9389 2818
    Email: mark.dehring@csl.com.au

    Talecris Contact:
    Wendy Wilson
    Tel: +1 919 316 2430
    Email: wendy.wilson@talecris.com


'/>"/>
SOURCE CSL Limited; Talecris Biotherapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Circ Pharma Limited Enters Into Development Agreement for Chrono Tramadol With Elan Corporation Plc
2. Boston Scientific Acquires Labcoat Limited
3. Red Herring Awards ProGenTech Limited for the 2008 Red Herring Asia 100
4. Bunge Limited Schedules Third Quarter 2008 Earnings Release and Conference Call
5. Solos Endoscopy, Inc. in Final Stages to Upgrade Pink Sheet Status from Limited to Current Information
6. EnrichMap Announces New Program To Reduce Medical Patient Noncompliance And Offers Healthcare Organizations A Limited Trial Test Opportunity
7. Masimo Initiates Limited Release of First-Ever Noninvasive and Continuous Hemoglobin Monitors
8. Non-Safety-Related Voluntary Recall of a Limited Portion of DAYTRANA(TM) (Methylphenidate Transdermal System) Patches Announced
9. Application for Listing of Shire Limited Ordinary Shares
10. Limited transparency in federal nanotech research may hamper development
11. Alimera Sciences, pSivida Limited Amend Medidur(TM) FA Collaboration Agreement
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... 11, 2017 , ... ComplianceOnline’s Medical Device Summit is back for its 4th ... in San Francisco, CA. The Summit brings together current and former FDA office bearers, ... and government officials from around the world to address key issues in device compliance, ...
(Date:10/11/2017)... Austin, TX (PRWEB) , ... October 11, 2017 ... ... in August compared the implantation and pregnancy rates in frozen and fresh ... the contribution of progesterone and maternal age to IVF success. , After comparing ...
(Date:10/10/2017)... ... October 10, 2017 , ... Dr. Bob Harman, founder and CEO ... Diego Rotary Club. The event entitled “Stem Cells and Their Regenerative ... attendees. Dr. Harman, DVM, MPVM was joined by two human doctors: Peter B. ...
(Date:10/9/2017)...  BioTech Holdings announced today identification and patenting ... stem cell therapy prevents limb loss in animal ... that treatment with ProCell resulted in more than ... to standard bone marrow stem cell administration.  Interestingly, ... of therapeutic effect.  ...
Breaking Biology Technology:
(Date:3/30/2017)... The research team of The Hong Kong Polytechnic University (PolyU) ... ground breaking 3D fingerprint minutiae recovery and matching technology, pushing contactless ... use in identification, crime investigation, immigration control, security of access and ... ... A research team led by Dr Ajay Kumar ...
(Date:3/28/2017)... India , March 28, 2017 ... IP, Biometrics), Hardware (Camera, Monitors, Servers, Storage Devices), Software ... Vertical, and Region - Global Forecast to 2022", published ... Billion in 2016 and is projected to reach USD ... between 2017 and 2022. The base year considered for ...
(Date:3/24/2017)... Research and Markets has announced the addition ... Trends - Industry Forecast to 2025" report to their offering. ... The Global Biometric ... of around 15.1% over the next decade to reach approximately $1,580 ... market estimates and forecasts for all the given segments on global ...
Breaking Biology News(10 mins):