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Exhibit (a)(11)
RHODIA RECEIVES HSR APPROVAL FOR TENDER OFFER FOR CHIREX INC.
Paris, August 16, 2000. Rhodia, one of the world's leading specialty chemicals
companies, announced today that it has received early termination of the waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended, relating to its tender offer to acquire all issued and outstanding
shares of ChiRex Inc. ChiRex, whose common stock is publicly traded in the
United States on The Nasdaq National Market ("NASDAQ"), is a provider of
advanced process development services and manufacturing to the pharmaceutical
industry. Pursuant to the merger agreement entered into on July 24, 2000 among
Rhodia, Cousin Acquisition, Inc. and ChiRex, ChiRex shareholders will receive
$31.25 per share in cash.
The offer is scheduled to expire at 12:00 midnight, New York City time, on
Thursday, August 31, 2000, unless it is extended. The offer remains conditioned
on, among other things, a majority of ChiRex outstanding shares being tendered
on into the offer.
Rhodia (NYSE: RHA), one of the world leaders in specialty chemicals, contributes
to improving the quality of life by developing value-added products, services
and solutions for the beauty, clothing, foodstuffs and healthcare markets as
well as for the environment, transport and manufacturing industries. Including
Albright & Wilson, Rhodia employs 30,000 people worldwide and recorded pro-forma
sales of 6.7 billion euros in 1999. Rhodia is listed on the Paris and New York
stock exchanges.
ChiRex Inc. ("ChiRex") stockholders are advised to read the tender offer
statement regarding the acquisition of ChiRex referenced in this press release,
filed by Rhodia and Cousin Acquisition, Inc. with the Securities and Exchange
Commission the ("SEC") and the related solicitation/recommendation statement
filed by ChiRex with the SEC. The tender offer statement (including an offer to
purchase, letter of transmittal and related tender offer documents) and the
solicitation/recommendation statement contain important information which should
be read carefully before any decision is made with respect to the offer. These
documents are available to all stockholders of ChiRex, at no expense to them.
These documents are also available at no charge at the SEC's website at
www.sec.gov.
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Rhodia Contacts
Press Relations
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Jean-Christophe Huertas Tel: 33 (0) 1 55 38 42 51
Investor Relations
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Angelina Palus Tel: 33 (0) 1 55 38 42 99
Sylvie Marchal Tel: 33 (0) 1 55 38 41 79
