Kirin confirmed it plans to acquire a 100 per cent stake in the vitamins giant at $95 per share - a 23.7 per cent premium to the stock's last closing price.
“The Kirin proposal recognises the strong leadership position that Blackmores, through its brands and people, has established in the natural health sector across the Asia Pacific region over our long history,” Blackmores chief executive Alastair Symington said. “The combined company will have a larger platform to further leverage the Blackmores brand, accelerate penetration into high growth Asian markets, and expand its presence into new geographies.
“Kirin Group is working to create social value and economic value by solving social issues through our business activities, and we have been transforming our business from a brewing business to the business model creating value across food and beverages and pharmaceuticals domains, based on the concept of “CSV” .”