IBAS - TENDER OFFER
Kroll, Inc (“Kroll”) and Ibas Holding ASA (“Ibas”) has on 17 November 2005 entered into an agreement (the “Bid Agreement”) pursuant to which Kroll will make a tender offer for all the shares in Ibas at an offer price of NOK 23.50 per share. The consideration shall be paid in cash.
The transaction is supported by the Board of Directors of Ibas, and Ibas
shareholders representing 7,273,639 shares (57.35% of the total number of
shares) have made conditional pre acceptances to Kroll with respect to the
tender offer. Pursuant to the Bid Agreement, the launching of the tender offer is subject to Kroll completing a legal and financial due diligence investigation to Kroll’s satisfaction. The completion of the tender offer will be subject to customary conditions such as:
In Ibas Board’s view it is positive for Ibas and its employees that the buyer is an industrial owner which can support the future development of Ibas.
- Kroll receiving acceptances for more than 90 percent of the Ibas shares,
- No changes of the share capital or corporate structure of the Ibas group, and no material disposal, acquisition or increase in liabilities,
- Kroll receiving the consents required from competent authorities on terms not unduly burdensome, and no competent competition authority shall in its final decision object to the completion of the tender offer or set conditions for the completion that are unduly burdensome,
- The receipt of any consents or waivers required for completion of the tender offer from material business partners of Ibas, and
- No material adverse change having occurred.
Further information from:
Svein R Goli, chairman, Ibas AS, Phone: +47 33 46 77 90, mobile: +47 90 75 67 57
Bjørn Arne Skogstad, President and CEO, Ibas AS, Phone: +47 62 81 01 00, Mobile: +47 48 14 90 70,
e-mail: bjorn.arne.skogstad@ibas.no
Facts about Ibas
Ibas is a world leader in the field of data recovery, data erasure services and computer forensics services. After the Vogon acquisition, Ibas Group dominates The Nordics, Germany, UK and France. The Norwegian stock listed group has a total of 166 employees, working at the main offices in Kongsvinger, Norway and in subsidiaries in nine countries – Sweden, Denmark, Finland, England, Germany, Poland, France, Singapore and USA. The company also has distributors and agents in a number of other countries in Europe and Asia.
Facts about Kroll
Kroll Inc. (www.krollworldwide.com), the world’s leading risk consulting company, is a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (www.mmc.com), the global professional services firm. Headquartered in New York, Kroll provides a wide range of investigative, intelligence, financial, security and technology services through offices in more than 65 cities in over 25 countries. Kroll’s principal technology services subsidiary is Kroll Ontrack Inc. (www.krollontrack.com), which is headquartered in Eden Prairie, Minnesota, and provides electronic and paper-based discovery, computer forensics, and data recovery services to companies, law firms, and government agencies. Ontrack Data Recovery (www.ontrackdatarecovery.com), a division of Kroll Ontrack, is the largest, most experienced and technologically advanced provider of data recovery products and services worldwide.
