Bayer Diagnostics Open Offer Price changed to Rs.668.08

JP Morgan India Pvt Ltd ("Manager to the Offer"), on behalf of Siemens AG ("Acquirer"), has issued this Corrigendum to the Public Announcement to the Shareholders of Bayer Diagnostics India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated July 03, 2006 and Corrigendum to the PA dated August 12, 2006, pursuant to and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "Takeover Regulations"), The shareholders of the Target Company are required to note the following:

The schedule of activities set forth in the Public Announcement dated July 03, 2006 is delayed. The original announced schedule of activities and the revised schedule of activities are as under:

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Activity			Original Schedule	Revised Schedule
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Specified Date 			July 07, 2006		July 07, 2006
Offer Opening Date		August 25, 2006		April 06, 2007
Offer Closing Date		September 14, 2006	April 25, 2007
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Due to the delay in implementation of the Offer, the Acquirer and the PAC will pay Interest of Rs 38.63 per fully paid share of the Target Company validly tendered and accepted under the Offer, computed at the rate of 10% per annum for the period from September 29, 2006, the original scheduled date of payment of consideration to May 10, 2007 the revised scheduled date of payment of consideration (both days inclusive).

A total payment of Rs 668.08, comprising of Rs 629.45 as the Offer Price and Rs 38.63 as interest due to delay, will be thus made for each fully paid up equity share of the Target Company validly tendered and accepted under the Offer.

The other terms and conditions of the Offer remain unchanged.

Source : Equity Bulls

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