DENTSPLY International Inc. and Degussa Dental, a unit of Degussa AG, recently announced the signing of a definitive agreement providing for the combination of the two companies through a cash acquisition by DENTSPLY valued at euros 576 million (approximately U.S. $500 million). The boards of directors of DENTSPLY and Degussa AG and the senior management team of Degussa Dental unanimously support the combination. The transaction, following regulatory approval in the U.S., Germany and certain other countries, is expected to close in July 2001. The transaction combines DENTSPLY International, the world's largest manufacturer of professional dental products, with Degussa Dental, the second-largest dental company worldwide, the market leader in Germany and Europe and the only significant non-domestic dental company in the Japanese market. This combination creates a professional dental products company more than three times the size of its nearest competitor.
DENTSPLY held a conference call on Wednesday, May 30, 2001. An audio replay of the conference call will be available for one week. To access the replay, dial (800) 696-1588, passcode 1052285.