PITTSBURGH, Oct. 23 /PRNewswire/ -- Bayer Corporation, of Pittsburgh,
today announced the completion of its $35.00 per share cash tender offer for
all outstanding shares of common stock of Sybron Chemicals Inc.
The offer expired at 11:59 p.m., New York City time, on Friday,
October 20, 2000. The depositary for the offer, EquiServe Trust Company,
N.A., has advised Bayer that as of the expiration of the offer, 5,716,166
shares of common stock of Sybron Chemicals Inc., representing approximately
99.6% of the outstanding shares, were validly tendered and not withdrawn
pursuant to the offer (including 56,050 shares tendered by guaranteed
delivery) and Bayer has accepted such shares for payment.
Bayer said it plans to promptly effect a short form merger under which it
will acquire 100% ownership of Sybron.
SOURCE Bayer Corporation
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