Reckitt Benckiser Commences Cash Tender Offer for All Outstanding Shares of Adams Respiratory Therapeutics

Dec 21, 2007, 00:00 ET from Reckitt Benckiser Group plc

    CHESTER, N.J. and SLOUGH, England, Dec. 21 /PRNewswire-FirstCall/ --
 Reckitt Benckiser Group plc (RB.L) ("Reckitt Benckiser"), today commenced
 its previously announced cash tender offer (the "Offer") for all of the
 outstanding shares of Adams Respiratory Therapeutics, Inc. (Nasdaq:   ARxT)
     As announced on December 10, 2007, Reckitt Benckiser has entered into a
 definitive agreement under which it will offer Adams stockholders US$60.00
 in cash for each Adams share they hold. This offer is being made through
 Twickenham Inc., a wholly owned subsidiary of Reckitt Benckiser. Adams'
 Board of Directors has unanimously determined that the offer is fair to and
 in the best interests of Adams' stockholders and recommended that holders
 of Adams common stock accept the offer and tender their shares in the
     The Offer represents a total offer value of approximately US$2.3
 billion (1.1 billion pounds Sterling), and will expire on January 23, 2008,
 unless extended.
     The Offer is made directly to the stockholders of Adams and is
 conditioned upon, among other things, the tender of a majority of Adams'
 outstanding shares of common stock and the expiration or termination of the
 waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Any
 common shares not acquired in the Offer are expected to be acquired in a
 subsequent merger at the same price as the Offer.
     Stockholders of Adams are advised to read the important information
 contained in the Tender Offer Statement on Schedule TO, the Offer to
 Purchase and any other documents relating to the Offer that are filed by
 Reckitt Benckiser and Twickenham with the Securities and Exchange
 Commission (SEC). In addition, Adams will file with the SEC a
 Solicitation/Recommendation Statement on Schedule 14D-9 relating to the
 offer. Stockholders of Adams may obtain copies of these documents for free,
 when available, at the SEC's website at or by calling
 Georgeson, Inc., the Information Agent for the Offer, at (800) 456-6112 (US
     Important Information
     Notice to Investors: This announcement is neither an offer to purchase
 nor a solicitation of an offer to sell securities. The tender offer
 statement being filed with the SEC on Schedule TO (including an offer to
 purchase, a related letter of transmittal and other offer documents) and
 the solicitation/ recommendation statement being filed with the SEC on
 Schedule 14D-9 contain important information that should be read carefully
 before any decision is made with respect to the tender offer. Those
 materials will be made available to Adams' security holders at no expense
 to them. In addition, all of those materials (and all other offer documents
 filed with the SEC) will be available at no charge on the SEC's Web site:
     Forward-looking Statements: This press release contains certain
 "forward- looking" statements, including the expected timetable for
 completing the proposed transaction between Reckitt Benckiser and Adams.
 Such forward-looking statements can be identified by the words "intend,"
 "expect," and similar expressions and are subject to risks and
 uncertainties that could cause actual results to differ materially from
 those in the forward-looking statements. Factors that could cause actual
 results to differ materially include, among others, the satisfaction of
 conditions to the closing of the proposed transaction; general economic,
 business and market conditions; and other risk factors set forth under Item
 1A. Risk Factors in Adams' Annual Report on Form 10-K for the fiscal year
 ended June 30, 2007 and under Item 1A. Risk Factors in Adams' Quarterly
 Report on Form 10-Q for the quarter ended September 30, 2007. Except to the
 extent required by applicable securities laws, we are not under any
 obligation to (and expressly disclaim any such obligation to) update any
 forward-looking statements, whether as a result of new information, future
 events, or otherwise. All statements contained in this press release are
 made only as of the date of this release.
     Notes for Editors
     Reckitt Benckiser is a world leader in household cleaning, health and
 personal care. The Company is truly global, with over 60 operating
 companies and some 43 manufacturing facilities worldwide and has sales in
 180 countries. The Company employs 22,000 people around the world. Amongst
 the Company's leading brands in household are Lysol, the world leader in
 disinfecting cleaning, Calgonit & Finish & Electrasol, the world leaders in
 automatic dishwashing, Woolite, world leader in fine fabrics, Vanish &
 Spray'nWash, world leaders in fabric treatment, Airwick and Mortein, both
 No.2 brands in air care and pest control respectively. In Health & Personal
 Care (25% of net revenues), leading brand positions include Veet, the world
 number one depilatory and Dettol the world's leading antiseptic, Nurofen,
 the leading European analgesic, Strepsils, world number one in medicated
 sore throat, Gaviscon the No.1 gastro intestinal remedy in UK and Lemsip
 the UK No.1 in cold/flu remedies.
     Reckitt Benckiser is headquartered in Slough just outside London, UK
 and is listed on the London stock exchange. With a market capitalization of
 c. 20bn pounds it ranks among the top 25 UK listed companies. Reckitt
 Benckiser had net revenues of 4.92bn pounds, operating profit of 910m
 pounds, and net income of 674m pounds in 2006.
     About Adams Respiratory Therapeutics, Inc.
     Adams is a specialty pharmaceutical company focused on the late-stage
 development, commercialization and marketing of over-the-counter and
 prescription pharmaceuticals for the treatment of respiratory disorders.

SOURCE Reckitt Benckiser Group plc