The US offer expired at 12pm EDT on 16 May 2011. A total of approximately 23,758,556 ADSs, representing approximately 13.50% of Wimm-Bill-Dann’s shares, were validly tendered at expiration. PepsiCo has accepted for payment all ADSs validly tendered pursuant to the US offer.
PepsiCo’s offer in Russia for all outstanding shares of Wimm-Bill-Dann will expire at 6pm MSD on 19 May 2011.
As described in the US offer documents, the shares underlying the ADSs validly tendered in the US offer will be tendered in the Russian offer. The US offer price will be converted to US dollars at the spot market conversion rates available to the ADS depositary during the conversion period and paid to tendering ADS holders using the weighted average of the conversion rates, less certain fees under the ADS depositary agreement and applicable taxes and other governmental charges, if any.
PepsiCo expects the conversion from Russian rubles to US dollars and the subsequent payment of US dollars to validly tendering ADS holders to occur no later than 31 May 2011.
Source: PepsiCo
© FoodBev Media Ltd 2024