Chiron Statement on Recommendations by Proxy Advisory Services
31 Mars 2006 - 7:45AM
Business Wire
Chiron Corporation (NASDAQ: CHIR) today noted that two proxy
advisory services have reached opposite conclusions regarding their
voting recommendations to Chiron shareholders in connection with
the proposed acquisition of Chiron by Novartis AG (NYSE: NVS). A
special meeting of Chiron shareholders will be held on April 12,
2006, to vote on the acquisition. Proxy Governance, an independent
proxy advisory firm, has recommended that Chiron shareholders vote
in favor of the acquisition, while Institutional Shareholder
Services, another independent proxy advisory firm, has recommended
voting against the acquisition. Chiron's independent directors
unanimously recommend that Chiron shareholders vote for the
Novartis acquisition. They believe it delivers full and fair value
for the Company and is a better alternative for Chiron's public
shareholders than if Chiron were to remain a standalone entity.
About Chiron Chiron delivers innovative and valuable products to
protect human health by advancing pioneering science across the
landscape of biotechnology. The company works to deliver on the
limitless promise of science and make a positive difference in
people's lives. For more information about Chiron, please visit
www.chiron.com.
Chiron (NASDAQ:CHIR)
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