Merck Serono to delist shares on July 18th

Merck Serono has announced that it expects to formally delist the company on July 18th 2007, following a cancellation of all publicly-held shares in the firm by the Civil Court of Basel and the annulment of any outstanding rights to the acquisition of these shares.

Following this move by the court, Merck is now in full possession of all shares in Merck Serono, with these shares’ final official day of trading to be July 17th 2007.

The company announced that shareholders affected by this announcement who did not tender their stake in the firm during the recent takeover offer will receive the same financial compensation of those that did – equal to the sum of CHF 1,100 (448.5 pounds) for each share held.

“Merck Serono shareholders who hold their shares in a safe custody account will automatically have the offer price of CHF 1,100 paid out to their account, presumably on July 31st 2007,” the firm said.

It added that shareholders in possession of cancelled share certificates should present them at a Swiss office of UBS or at their local Swiss bank.

Following the successful closure of a share purchase agreement and the passing of resolutions by Serono, Merck KGaA announced the launch of Merck Serono in January 2007.