Feb 22 (Reuters) - CSR Ltd (CSR) : RESPONSE TO MEDIA...

Feb 22 (Reuters) - CSR Ltd (CSR) :

• RESPONSE TO MEDIA SPECULATION
• CONFIRMS THAT IT HAS RECEIVED A CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL FROM SAINT- GOBAIN TO ACQUIRE 100% OF SHARES IN CSR
• CONFIRMS THAT IT HAS RECEIVED A CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL FROM SAINT- GOBAIN
• PROPOSAL FROM SAINT- GOBAIN TO ACQUIRE 100% OF SHARES IN CSR BY WAY OF SCHEME OF ARRANGEMENT FOR A PRICE OF $A9.00 CASH PER SHARE
• UNDER PROPOSAL, CSR WOULD BE ENTITLED TO PAY A FINAL DIVIDEND OF UP TO A$0.25 PER SHARE FOR ITS FINANCIAL YEAR ENDING 31 MARCH
• PROPOSAL FOLLOWS AN EARLIER INDICATIVE OFFER AND A PERIOD OF NEGOTIATION, WHICH INCLUDED PROVISION OF VALUE IMPACTING DUE DILIGENCE
• CURRENTLY PROVIDING SAINT-GOBAIN WITH CONFIRMATORY DUE DILIGENCE ACCESS TO PROGRESS TO A BINDING TRANSACTION
• CSR BOARD NOTES THAT THERE IS NO CERTAINTY THAT PROPOSAL WILL RESULT IN A BINDING OFFER FOR CSR
• CSR SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO PROPOSAL