This week the offer period for the voluntary offer by Wintershall Norwegen Explorations- und Produktions-GmbH from November 6, 2008 for all the shares of Revus Energy ASA, Stavanger, Norway, ends. Revus's shareholders who have so far not tendered their shares can accept Wintershall's offer until Friday, December 5, 2008 (24:00 CET). The wholly owned BASF subsidiary Wintershall is offering to pay NOK 110 cash per share.
"Our offer price provides Revus's shareholders with an attractive premium above the Revus share price before the announcement of our offer," Reinier Zwitserloot, Chairman of the Board of Executive Directors of Wintershall Holding AG, explained.
The offer represents a premium of 145% per cent compared to the closing share price on the last trading day prior to Wintershall's public announcement of the offer and a premium of 44% to the six and twelve month average closing prices ending October 24, 2008. The offer by Wintershall also includes a 16% premium on the alltime-high price of the Revus share of NOK 95 before the announcement of the offer.
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