DuPont To Acquire CombiChem For $95 Million

DuPont (Wilmington, DE) and CombiChem Inc. (San Diego), a computational drug discovery company, have entered into an agreement under which DuPont will acquire CombiChem for $6.75 per share in cash, or approximately $95 million. The two companies expect to complete the transaction by the end of the year.

Under terms of the agreement, DuPont will make a tender offer for all outstanding shares of CombiChem at $6.75 per share. If successful, the tender offer will be followed by a merger in which all of the shares not tendered will be purchased at the same price.

Once the acquisition is complete, CombiChem will become part of DuPont Pharmaceuticals Research Laboratories, but will remain in California.

CombiChem combines computer modeling technology with advanced chemistry to discover potential new drug compounds, as well as compounds that have applications in agriculture and materials sciences.

DuPont is a science company, delivering science-based in food and nutrition; health care; apparel; home and construction; electronics; and transportation.

For more information, call Thomas Barry of DuPont Pharmaceuticals at 302-992-5020, or Vicente Anido Jr., president and CEO of CombiChem, at 619-530-2987.

Edited by Jim Pomager