AIT makes 162 million bid for Goldshield

Further to the announcement made on September 14, Israel's Fuhrer family-owned AIT and the independent directors have reached agreement on the terms of a recommended cash acquisition to be made for UK-based generic pharmaceutical and consumer health care company Goldshield, in deal valuing you latter at round £162.1 million ($263.6 million). It is intended that the deal will be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act.

The price of 440 pence in cash for each Scheme Share represents: a premium of approximately 36% to the 323.5 pence per Goldshield share at June 23, the day before the announcement by Goldshield that it had received approaches concerning a possible offer; a 35.9% premium for the three-month period ending that date and 53% more than that prior to the original announcement. .

AIT is a newly incorporated company, formed for the purpose of implementing the acquisition.AIT is ultimately owned by the Fuhrer Family, which has significant experience in the pharmaceutical industry, owning and controlling the Neopharm group of companies, one of Israel's leading businesses dedicated to marketing premium ethical pharmaceuticals and branded consumer health care products. It is expected that the former chief executive of
Goldshield, Ajit Patel, will also invest in AIT.