新闻稿

登士柏与西诺德宣布以130亿美金实现对等合并 登士柏与西诺德宣布以130亿美金实现对等合并——组建口腔解决方案公司。在耗材、技术和设备领域的领先平台强强联手,打造端对端的综合解决方案,满足客户需求,提升关爱患者,心系患者;更好地把握牙科行业的主流发展趋势,促进行业发展,包括加速数字化口腔的实施;注目的财务状况与稳健的现金流,实现再投资的增长,提升股东的资本回报率;本次交易有望实现每年超过1.25亿美元的税前增收,调整后的第一年内即可为两家公司的股东提升每股收益 09/17/2015

纽约,宾夕法尼亚及长岛市,约克郡讯,2015年9月15日—登士柏国际集团股份有限公司(以下简称“登士柏”)(纳斯达克交易代码:XRAY)与西诺德牙科设备有限公司(以下简称“西诺德”)(纳斯达克交易代码:SIRO)于今天宣布,两家公司董事会全体一致同意达成合并协议,且根据协议规定,两家公司将进行全股份对等合并。本次交易意在组建世界上最大的专业牙科产品和技术制造商。根据登士柏和西诺德2015年9月14日的收盘价格,本次交易涉及的形式股票价值约133亿美元。基于过去十二个月的形式发票估算,新公司年净营收约达38亿美元,调整后的EBITDA(息税、折旧及摊销前利润)将超过9亿美元。

合并后的公司,将拥有先进的耗材、设备和技术平台的支持,可提供强有力的互补共享系统和端对端解决方案,以达成更好的关爱患者、心系患者。同时公司将凭借全球最大的销售以及行业基础设施服务来为世界各地的客户提供优化的产品种类,满足全球对数字化口腔及一体化解决方案日益增长的需求。合并完成后,公司更将拥有强大、灵活的财务状况和显著稳健的现金流,赋予其加速成长的能力,并为股东带来可观的投资回报。

根据协议条款,西诺德股东每1股现有西诺德股票可获得1.8142股登士柏股票。该兑换率是基于每家公司加权二十和三十天交易价格的平均值后得出的结果,符合“市场”合并估值。交易完成后,登士柏股东的股份持有比例为58%,西诺德股东的股份持有比例为42%。合并期间,有望以免税形式向两家公司的股东发行股票。


成熟的领导团队

交易一完成,西诺德总裁兼首席执行官,Jeffrey T. Slovin,将担任登士柏西诺德的首席执行官,也将成为合并后新公司的董事会成员。登士柏主席兼首席执行官Bret W. Wise 将担任合并后新公司的董事会执行主席。执行主席与首席执行官密切配合执行企业策略,整合两家公司及其企业文化。来自登士柏的Christopher T. Clark 和 James G. Mosch分别担任技术部和口腔及医疗耗材部的总裁兼首席运营官。来自西诺德的Ulrich Michel将担任执行副总裁兼首席财务官。新董事会由11名成员组成,其中,6名成员(包括 Mr.Wise 先生)为登士柏现任董事,另5名成员(包括Mr. Slovin 先生)为西诺德现任董事。此外,未来将由两家公司的代表担任登士柏西诺德的高层领导职务。

合并后的公司名称为登士柏西诺德,在纳斯达克交易所交易,代码为XRAY。登士柏西诺德全球总部设在宾夕法尼亚州约克郡,这也是登士柏总部当前所在地,而国际总部则设在奥地利萨尔斯堡。

西诺德总裁兼首席执行官,Jeffrey T. Slovin说:“今天对于两家公司、对于全球整个口腔界以及患者而言都是一个令人振奋的日子。我们正把两家共同致力于创新的世界级大公司联合在一起,为口腔机构和医生提供各种一体化的解决方案,尤其是对口腔行业中增长最快的领域。凭借西诺德久经考验的数字化解决方案和牙科设备以及登士柏先进的耗材平台,我们制定出最全方位的牙科解决方案,满足各个领域客户的需求。我希望能带领西诺德和登士柏的天才团队共同组建我们的口腔解决方案公司,推动全球牙科数字化,为客户和患者提供卓越的口腔解决方案。”

“把两大行业领导者团结在一起,我们十分激动,”登士柏主席兼首席执行官Bret W. Wise 说,“登士柏西诺德提供一系列综合性牙科解决方案,以更有效地满足全球口腔客户的需求,并且倡导关爱患者,心系患者。凭借强有力的财务支持,全方位的产品服务和一体化综合解决方案,登士柏西诺德将为股东带来极具吸引力的回报率,进一步推动全球牙科行业发展得更快、更好、更安全。我希望与Jeff 以及合并后的管理层精诚协作,共同完成这一使命。”

 

显著的战略和金融收益

本次提出的交易旨在组建全球最大的专业牙科产品与技术制造商,其规模和覆盖领域涉及所有主要地理区域,并对每个主要的口腔领域提供富有竞争力的产品和服务。具体收益如下:

  • 规模和产品范围扩大:新公司净营收将达38亿美元,调整后的EBITDA(息税、折旧及摊销前)利润将超过9亿美元,不包括由于合并产生的增收。合并后的公司拥有领先的销售团队,具备行业最大的销售和基础服务设施。登士柏西诺德将在全球范围内为每个主要的牙科领域提供市场领先的解决方案,包括耗材、专业技术及设备。
  • 整体解决方案提供者:通过整合耗材、设备及技术,新公司将提供数字化技术、一体化解决方案和诊疗流程,使牙科机构和医生提高工作效率,实现患者关爱。
  • 注重创新:合并后的公司将继续强化耗材、设备与技术的创新。两家公司都拥有非常卓越的研发能力,结合登士柏全球一流的材料科学专业能力以及西诺德行业领先的技术平台,进一步拓宽产品领域,助力新公司成为牙科市场的创新领导者。在登士柏西诺德,600多位科学家和研发人员共同致力于加快全新口腔解决方案和流程的发展速度,使之更好、更安全、更有效。
  • 财务优势与灵活性:合并后的公司财务实力将更加显著,稳健的现金流确保持续的增长再投资,注重股东的投资回报。登士柏西诺德打算在合并完成后,尽快拨出5亿美元进行股票回购,以便为股东带来增值。新公司计划维持登士柏目前的每股0.29美元的股利支付水平。
  • 巨大协同效益:登士柏与西诺德合并交易完成后,不晚于第三年有望每年实现超过1.25亿美元的税前增收。新公司计划进一步拓宽其产品的应用范围,扩大客户群,增加基础设施规模,以实现更加有利的成本与营收协同效益。本次合并释放出重要股东的价值,调整后的第一年即可为两家公司的股东提升每股收益。
  • 经验丰富的管理团队:合并后的公司,由牙科行业内经验最为丰富的管理团队带领,其成长速度快,领导能力强,为全球开发各种差异化的产品和服务。登士柏和西诺德管理团队曾在一系列产品领域中有过成功合作的经历,为合并后的管理团队的快速成长打下了坚实的基础。

批准

根据预期,在得到监管部门的批准并满足惯例成交条件后,本次交易将于2016年第一季度内完成。本次交易须得到登士柏与西诺德股东的批准。

 

顾问团

Moelis & Company LLC是登士柏的独家财务顾问,Skadden, Arps, Slate, Meagher & Flom LLP
是登士柏的法律顾问。Jefferies LLC是西诺德的独家财务顾问,Latham & Watkins LLP 是西诺德的法律顾问。

 

关于登士柏

登士柏国际集团股份有限公司是一家在口腔及耗材领域中首屈一指的产品制造商和销售商,是专业牙科市场上全球最大的牙科耗材产品制造商。一个多世纪以来,登士柏专注于创新与专业合作,拥有多种品牌的牙科耗材和小型牙科设备。登士柏公司总部位于美国,此外还在120多个国家设立分销机构。了解更多关于登士柏及其产品的信息,敬请访问:
www.dentsply.com

 

关于西诺德

西诺德,口腔技术领先者,拥有130多年的历史,服务全球牙医和经销商。西诺德开发、制造、销售完整的口腔产品系列,包括CAD/CAM修复系统(CEREC),数字化牙片、全景和三维影像系统,口腔综合治疗台和治疗器械。了解更多关于西诺德及其产品的信息,敬请访问:www.sirona.com

 

Conference Call and Webcast
The companies will hold a joint conference call and webcast today at 5:30 pm ET to discuss this announcement followed by a question and answer session. The conference call can be accessed by dialing (866) 610-1072 within the U.S. and (973) 935-2840 for all other locations. The live webcast will be available to interested parties via DENTSPLY’s IR website at www.investor.dentsply.com and Sirona’s IR website at www.sirona.com/en/investors. A presentation will accompany the conference call. These slides may be accessed on the DENTSPLY and Sirona websites. A replay of the webcast will be available for two weeks following the call. To access the replay, please dial (800) 585-8367 with the U.S. or (404) 537-3406 internationally. The Conference ID for the conference call and replay is 41327193.

Forward‐Looking Statements
This communication, in addition to historical information, contains “forward‐looking statements” (as defined in the Securities Litigation Reform Act of 1995) regarding, among other things, future events or the future financial performance of DENTSPLY and Sirona. Words such as “anticipate,” “expect,” “project,” “intend,” “believe,” and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward‐looking statements. Forward‐looking statements relating to the proposed transaction include, but are not limited to: statements about the benefits of the proposed transaction between DENTSPLY and Sirona, including future financial and operating results; DENTSPLY’s and Sirona’s plans, objectives, expectations and intentions; the expected timing of completion of the proposed transaction; and other statements relating to the merger that are not historical facts. Forward‐looking statements are based on information currently available to DENTSPLY and Sirona and involve estimates, expectations and projections. Investors are cautioned that all such forward‐looking statements are subject to risks and uncertainties, and important factors could cause actual events or results to differ materially from those indicated by such forward‐looking statements. With respect to the proposed transaction between DENTSPLY and Sirona, these factors could include, but are not limited to: the risk that DENTSPLY or Sirona may be unable to obtain governmental and regulatory approvals required for the transaction, or that required governmental and regulatory approvals may delay the transaction or result in the imposition of conditions that could reduce the anticipated benefits from the proposed transaction or cause the parties to abandon the proposed transaction; the risk that a condition to closing of the transaction may not be satisfied; the length of time necessary to consummate the proposed transaction, which may be longer than anticipated for various reasons; the risk that the businesses will not be integrated successfully; the risk that the cost savings, synergies and growth from the proposed transaction may not be fully realized or may take longer to realize than expected; the diversion of management time on transaction‐related issues; the effect of future regulatory or legislative actions on the companies or the industries in which they operate; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; economic and foreign exchange rate volatility; the continued strength of the dental and medical device markets; unexpected changes relating to competitive factors in the dental and medical devices industries; the timing, success and market reception for DENTSPLY’s and Sirona’s new and existing products; the possibility of new technologies outdating DENTSPLY’s or Sirona’s products; the outcomes of any litigation; continued support of DENTSPLY’s or Sirona’s products by influential dental and medical professionals; changes in the general economic environment, or social or political conditions, that could affect the businesses; the potential impact of the announcement or consummation of the proposed transaction on relationships with customers, suppliers, competitors, management and other employees; the ability to attract new customers and retain existing customers in the manner anticipated; the ability to hire and retain key personnel; reliance on and integration of information technology systems; the risks associated with assumptions the parties make in connection with the parties’ critical accounting estimates and legal proceedings; and the potential of international unrest, economic downturn or effects of currencies, tax assessments, tax adjustments, anticipated tax rates, raw material costs or availability, benefit or retirement plan costs, or other regulatory compliance costs. Additional information concerning other risk factors is also contained in DENTSPLY’s and Sirona’s most recently filed Annual Reports on Form 10‐K, subsequent Quarterly Reports on Form 10‐Q, Current Reports on Form 8‐K, and other SEC filings.
Many of these risks, uncertainties and assumptions are beyond DENTSPLY’s or Sirona’s ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward‐looking statements. Furthermore, forward‐looking statements speak only as of the information currently available to the parties on the date they are made, and neither DENTSPLY nor Sirona undertakes any obligation to update publicly or revise any forward‐looking statements to reflect events or circumstances that may arise after the date of this communication. Nothing in this communication is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per DENTSPLY share or Sirona share for the current or any future financial years or those of the combined company, will necessarily match or exceed the historical published earnings per DENTSPLY share or Sirona share, as applicable. Neither DENTSPLY nor Sirona gives any assurance (1) that either DENTSPLY or Sirona will achieve its expectations, or (2) concerning any result or the timing thereof, in each case, with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, cost reductions, business strategies, earnings or revenue trends or future financial results. All subsequent written and oral forward‐looking statements concerning DENTSPLY, Sirona, the proposed transaction, the combined company or other matters and attributable to DENTSPLY or Sirona or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

Additional Information and Where to Find It
This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed transaction between DENTSPLY and Sirona or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The proposed business combination transaction between DENTSPLY and Sirona will be submitted to the respective stockholders of DENTSPLY and Sirona for their consideration. DENTSPLY will file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S‐4 that will include a joint proxy statement of DENTSPLY and Sirona that also constitutes a prospectus of DENTSPLY. DENTSPLY and Sirona will deliver the joint proxy statement/prospectus to their respective stockholders as required by applicable law. DENTSPLY and Sirona also plan to file other documents with the SEC regarding the proposed transaction. This communication is not a substitute for any prospectus, proxy statement or any other document which DENTSPLY or Sirona may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF DENTSPLY AND SIRONA ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT DENTSPLY, SIRONA, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and stockholders will be able to obtain free copies of the joint proxy statement/prospectus and other documents containing important information about DENTSPLY and Sirona, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. DENTSPLY and Sirona make available free of charge at www.sirona.com and www.DENTSPLY.com, respectively (in the “Investor Relations” section), copies of materials they file with, or furnish to, the SEC.

Participants in the Merger Solicitation
DENTSPLY, Sirona, and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the stockholders DENTSPLY of and Sirona in connection with the proposed transaction. Information about the directors and executive officers of Sirona is set forth in its proxy statement for its 2014 annual meeting of stockholders, which was filed with the SEC on January 28, 2015. Information about the directors and executive officers of DENTSPLY is set forth in its proxy statement for its 2015 annual meeting of stockholders, which was filed with the SEC on April 10, 2015. These documents can be obtained free of charge from the sources indicated above. Other information regarding those persons who are, under the rules of the SEC, participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

Contacts

DENTSPLY

Investors:
Derek Leckow
VP, Investor Relations
DENTSPLY International Inc.
Tel: +1 (717) 849-7863
E-mail: derek.leckow@dentsply.com
Media:
Michael Freitag / Tim Lynch
Partner / Partner
Joele Frank
Tel: +1 (212) 355-4449
E-mail: mfreitag@joelefrank.com or tlynch@joelefrank.com

Sirona
Investors:
Joshua Zable
VP, Investor Relations
Sirona Dental Systems Inc.
Tel: +1 (718) 482-2184
E-mail: joshua.zable@sirona.com
Media:
Chuck Dohrenwend
Managing Director
Abernathy MacGregor Group
Tel: +1 (212) 371-5999
E-mail: cod@abmac.com

进一步信息,请联系:

西诺德牙科设备公司
Sirona Straße 1
A-5071 Wals bei Salzburg
Austria
P +43 (0) 662 / 2450-0
F +43 662 2450-109590
contact@sirona.com
www.sirona.com

关于西诺德牙科设备有限公司

西诺德,全球口腔解决方案领导者,具有超过130年的历史且在全球各地拥有经销商。西诺德致力于研发、提供世界先进的口腔设备,包括用于椅旁(CEREC)和技工所(inLab)的CAD/CAM全瓷修复系统、口腔综合治疗台、X线诊断系统以及治疗器械和灭菌设备,关于更多西诺德及产品信息请访问 www.sirona.com
此信息及任何附件包含了关于西诺德牙科设备公司的前瞻性陈述。包括财务业绩、指导预测、业务前景、产品服务,及涉及重大风险、不明朗因素或其他因素的信息,可能导致实际业绩,表现或成就的任何未来结果,业绩或成就可能与这些前瞻性陈述中(明示或暗示)有重大差异。您可识别此类语句所使用的词,如“可能”, “可能”, “估计”, “将会”, “相信” , “预计”, “认为”,“打算”,“预期”,“计划”,“计划”, “目标”, “预测” ,以及类似的词语和表达,这在1995年美国私人证券诉讼改革法案”中包含的识别前瞻性陈述。这些陈述不能保证未来的业绩和已知或未知的风险以及不确定性和其他因素。我们告诫读者不要过分依赖这些陈述,这些陈述仅截至本公布日期为止。 对于此类风险,不确定性因素和其他事项,可能导致实际结果产生重大的不同。包括有关风险,其中包括其他因素的讨论,牙科产品和服务,定价,未来本公司产品的销售量,市场不断变化的经济,市场和竞争的条件,市场对产品的依赖,对关键人员的依赖,科学技术的发展,竞争的激烈,市场的不确定性,经销商的依赖性,管理层的能力增长,对主要供应商的依赖,对主要管理人员的依赖,政府的监管,收购及从属关系,读者都应仔细审查,并考虑各种由本公司在其年度报告10-K表格,并在表格10-Q和8-K提交陈述给美国证券交易委员会。本公司不承担任何义务更新任何前瞻性陈述文件中包含的附件、反映的新信息、未来事件或发展的日期等任何此类声明。 这些具有前瞻性的声明是基于管理层的当前期望和信念,以及对未来事件的若干假设。这些陈述会受到各类风险,不确定性的事,假设和其他重要因素的影响 。由于实际情况可能会与此类表述及暗示有非常大的不同,因此请您注意不要过分依赖于此份声明。公司根据美国安全法整理的报告包含了这些风险和不确定性的讨论 。此演示文稿包含非GAAP财务指标,如可调整的EBITDA不应孤立地看待,无意净收入(亏损)的经营业绩或现金流量的替代指标作为经营活动的替代流动性的措施。此演示文稿中的信息部分是基于2006年5月16日发出的信息汇编而成。无论它将生成新的信息,发生新的事件,或导致其他影响,西诺德牙科设备有限公司不承担任何义务,并明确表示不承担任何更新或修订任何陈述的责任。建议您审查我们提交给美国证券交易委员会(SEC)的报表,您可以通过该网站查询,www.sec.gov