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:4/27/2016)... British Columbia , April 27, 2016 /PRNewswire/ ... oder "NanoStruck") (CSE: NSK) (OTCPink: NSKQB) ( ... im Anschluss an ihre Pressemitteilung vom 13. August ... erhalten hat, ihre Finanzen um zusätzliche 200.000.000 Einheiten ... 4.000.000 Kanadische Dollar zu bringen. Davon wurden 157.900.000 ...
(Date:4/27/2016)... Winnipeg, Manitoba (PRWEB) , ... April 27, 2016 ... ... commercially released for simultaneous preclinical PET (Positron Emission Tomography) and MRI (Magnetic Resonance ... for better understanding disease and testing novel treatments in small animal subjects. Simultaneous ...
(Date:4/26/2016)... ... April 27, 2016 , ... Cameron ... LLP as an associate in the firm’s Intellectual Property practice group. , Clients ... electromechanical patent applications. He has an electrical engineering and computer engineering background, and ...
(Date:4/26/2016)... ... April 26, 2016 , ... This unique "Fertility Happy Hour" event will be ... opportunity to get the lowdown on female fertility and the reproductive technologies that are ... Hade, of Boston IVF - The Arizona Center, will give a short presentation and ...
Breaking Biology Technology:
(Date:3/10/2016)... Pa. , March 10, 2016   Unisys Corporation ... Customs and Border Protection (CBP) is testing its biometric ... San Diego to help identify certain non-U.S. ... . The test, designed to help determine the efficiency ... environment, began in February and will run until May 2016. ...
(Date:3/3/2016)... -- FlexTech, a SEMI Strategic Association Partner, awarded five FLEXI ... Leadership in Education, and, in a category new this ... year of the FLEXI Awards and the winners join ... past years . Judging was done on a set ... by a panel of non-affiliated, independent, industry experts. ...
(Date:3/1/2016)... March 1, 2016 ... addition of the  "Global Biometric Access ... to their offering. --> ... of the  "Global Biometric Access Control ... their offering. --> Research ...
Breaking Biology News(10 mins):