SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 12)*
CHIRON CORPORATION
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
170040109
(CUSIP Number of Class of Securities)
WAYNE P. MERKELSON ANDREW R. BROWNSTEIN, ESQ.
NOVARTIS CORPORATION TREVOR S. NORWITZ, ESQ.
608 FIFTH AVENUE WACHTELL, LIPTON, ROSEN & KATZ
NEW YORK, NEW YORK 10020 51 WEST 52 STREET
(212) 307-1122 NEW YORK, NEW YORK 10019
(212) 403-1000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications on Behalf of Filing Persons)
OCTOBER 30, 2005
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See ss.240.13d-7 for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
CUSIP No. 170040109
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1. NAMES OF REPORTING PERSONS: Novartis Biotech Partnership, Inc.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 06-1415318
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(A) [ ]
------------------------------------------------------------------
(B) [ ]
------------------------------------------------------------------
3. SEC USE ONLY:
--------------------------------------------------------------------------
4. SOURCE OF FUNDS (SEE INSTRUCTIONS): AF
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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Number of 7. SOLE VOTING POWER
Shares 0
Beneficially --------------------------------------------------------------
Owned by
Each
Reporting 8. SHARED VOTING POWER
Person 127,206,693
With --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 127,206,693
--------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 127,206,693
-------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 53%
-------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
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CUSIP No. 170040109
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS: Novartis Corporation
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 13-1834433
--------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(A) [ ]
------------------------------------------------------------------
(B) [ ]
------------------------------------------------------------------
3. SEC USE ONLY:
--------------------------------------------------------------------------
4. SOURCE OF FUNDS (SEE INSTRUCTIONS): AF
--------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION New York
--------------------------------------------------------------------------
Number of 7. SOLE VOTING POWER
Shares 0
Beneficially --------------------------------------------------------------
Owned by
Each
Reporting 8. SHARED VOTING POWER
Person 127,214,149
With --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 127,214,149
--------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 127,214,149
-------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
-------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 53%
-------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
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CUSIP No. 170040109
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS: Novartis Pharma AG
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
--------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(A) [ ]
------------------------------------------------------------------
(B) [ ]
------------------------------------------------------------------
3. SEC USE ONLY:
--------------------------------------------------------------------------
4. SOURCE OF FUNDS (SEE INSTRUCTIONS): WC
--------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland
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Number of 7. SOLE VOTING POWER
Shares 0
Beneficially --------------------------------------------------------------
Owned by
Each
Reporting 8. SHARED VOTING POWER
Person 5,469,770
With --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,469,770
--------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,469,770
-------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
-------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2%
-------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
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CUSIP No. 170040109
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS: Novartis AG
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
--------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(A) [ ]
------------------------------------------------------------------
(B) [ ]
------------------------------------------------------------------
3. SEC USE ONLY:
--------------------------------------------------------------------------
4. SOURCE OF FUNDS (SEE INSTRUCTIONS): WC
--------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(D) OR 2(E) [ ]
--------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland
--------------------------------------------------------------------------
Number of 7. SOLE VOTING POWER
Shares 0
Beneficially --------------------------------------------------------------
Owned by
Each
Reporting 8. SHARED VOTING POWER
Person 132,683,919
With --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER 132,683,919
--------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 132,683,919
-------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
-------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 55%
-------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
-------------------------------------------------------------------------
ITEM 1. SECURITY AND ISSUER
This Amendment No. 12 to Schedule 13D relates to Common Stock, par value
$0.01 per share (the "Common Stock"), of Chiron Corporation, a Delaware
corporation (the "Company"). Novartis AG ("Novartis"), Novartis Corporation,
("Novartis Corp"), Novartis Biotech Partnership, Inc. ("Biotech"), and Novartis
Pharma AG ("Novartis Pharma" and, together with Novartis, Novartis Corp and
Biotech the "Reporting Persons") hereby amend the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended and supplemented by adding the following:
Novartis plans to finance the transactions described in Item 4 below with
available cash or other liquid assets.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended and supplemented by adding the following:
On October 30, 2005, the Company entered into an Agreement and Plan of
Merger (the "Merger Agreement") with Novartis Corp, Biotech and, for certain
purposes only, Novartis. On the terms and subject to the conditions of the
Merger Agreement, Biotech will be merged with and into the Company (the
"Merger"), with the Company continuing as the surviving corporation and as an
indirect wholly-owned subsidiary of Novartis. Pursuant to the Merger, each share
of Common Stock issued and outstanding at the effective time of the Merger
(other than shares of Common Stock (i) owned by the Reporting Persons, the
Company, or any of their direct or indirect subsidiaries, except for any such
shares held on behalf of third parties, or (ii) owned by stockholders properly
exercising appraisal rights) will be converted into the right to receive $45.00
in cash, without interest.
Completion of the Merger is subject to approval of (i) the holders of a
majority of the outstanding shares of Common Stock and (ii) the holders of a
majority of the outstanding shares of Common Stock, excluding shares of Common
Stock owned by the Reporting Persons. The Merger Agreement is also subject to
the satisfaction of other customary conditions, including governmental and
regulatory approvals.
Novartis issued a press release on October 31, 2005 announcing the
execution of the Merger Agreement. The press release and Merger Agreement are
filed as Exhibit 99.1 and Exhibit 99.2 hereto, respectively, and are
incorporated by reference herein.
The Company also gave Novartis and Novartis AG notice of the exercise of
its right, pursuant to the Subscription Agreement, dated as of November 20, 1994
among the Company, Novartis and certain of its affiliates (filed as an exhibit
to the Schedule 13D on January 21, 1997), to require Biotech to purchase
shares of Common Stock directly from the Company at a price per share equal to
fair market value, for an aggregate purchase price of $300 million. "Fair market
value" is defined under the Subscription Agreement as the average of the closing
sale prices or the closing bid quotations of shares of Common Stock on the
Nasdaq National Market during the ten-day period immediately preceding the
business day three business days prior to the closing of the purchase, which
will occur following satisfaction of all closing conditions set forth in the
Subscription Agreement, including governmental and regulatory approvals.
ITEM 5. INTEREST IN SECURITIES OF ISSUER
Item 5(c) is hereby amended and supplemented by adding the following:
(c) The disclosures contained in Item 4 above are incorporated by reference
herein.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Item 6 is hereby amended and supplemented by adding the following:
The disclosure contained in Item 4 above are incorproated by reference
herein.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
99.1 Press Release, dated Octber 31, 2005.
99.2 Agreement and Plan of Merger, dated as of October 30, 2005, by and
among Novartis Corporation, Novartis Biotech Partnership, Inc., Chiron
Corporation and, for purposes of Section 10.14 thereof only, Novartis
AG.
99.3 Joint Filing Agreement, dated as of October 31, 2005, by and among
Novartis Biotech Partnership, Inc., Novartis Corporation, Novartis
Pharma AG and Novartis AG.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: October 31, 2005
NOVARTIS BIOTECH
PARTNERSHIP, INC.
By: /s/ Wayne P. Merkelson
--------------------------
Name: Wayne P. Merkelson
Title: Vice President
NOVARTIS CORPORATION
By: /s/ Jeff Benjamin
---------------------------
Name: Jeff Benjamin
Title: Vice President
NOVARTIS PHARMA AG
By: /s/ Jorg Reinhardt
---------------------------
Name: Jorg Reinhardt
Title: Authorized Signatory
By: /s/ Martin Henrich
---------------------------
Name: Martin Henrich
Title: Authorized Signatory
NOVARTIS AG
By: /s/ Frederic Krohn
---------------------------
Name: Frederic Krohn
Title: Authorized Signatory
Exhibit Index
EXHIBIT NUMBER EXHIBIT NAME
-------------- -----------------------------------------------------------
99.1 Press Release, dated October 31, 2005.
99.2 Agreement and Plan of Merger, dated as of October 30, 2005,
by and among Novartis Corporation, Novartis Biotech
Partnership, Inc., Chiron Corporation and, for purposes of
Section 10.14 thereof only, Novartis AG.
99.3 Joint Filing Agreement, dated as of October 31, 2005, by and
among Novartis Biotech Partnership, Inc., Novartis
Corporation, Novartis Pharma AG and Novartis AG.
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS OF
NOVARTIS, NOVARTIS PHARMA, NOVARTIS CORP AND BIOTECH
DIRECTORS AND EXECUTIVE OFFICERS OF NOVARTIS
The name, address, citizenship and present principal occupation or
employment of each of the directors and executive officers of Novartis are set
forth below. Unless otherwise indicated below, each occupation set forth
opposite an individual's name refers to employment with Novartis.
NAME, FUNCTION AND BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
----------------------------------- ----------- ----------------------------
Daniel Vasella Switzerland Chairman of the Board of
Chairman of the Board of Directors, Directors, Chief Executive
Chief Executive Officer Officer
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
Hans-Jorg Rudloff Germany Chairman of the Executive
Vice Chairman of the Board of Committee of Barclays
Directors Capital
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
Prof. Dr. Helmut Sihler Austria Retired
Vice Chairman of
the Board of Directors
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
Birgit Breuel Germany Member of the Supervisory
Director Board of Gruner + Jahr AG,
c/o Novartis AG German
Lichtstrasse 35
CH-4002 Basel, Switzerland
Prof. Dr. Peter Burckhardt Switzerland Head of Medical Service at
Director the University Hospital of
c/o Novartis AG Lausanne
Lichtstrasse 35
CH-4002 Basel, Switzerland
Prof. Srikant Datar, PhD. India Senior Associate Dean for
Director Executive Education at
c/o Novartis AG Harvard Business School
Lichtstrasse 35
CH-4002 Basel, Switzerland
William W. George USA Chairman and Chief Executive
Director Officer of Medtronic, Inc.,
c/o Novartis AG Minneapolis
Lichtstrasse 35
CH-4002 Basel, Switzerland
Alexandre F. Jetzer Switzerland Consultant
Director
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
Pierre Landoldt Switzerland President of the Sandoz
Director Family Foundation
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
Prof. Dr. Rolf M. Zinkernagel Switzerland Professor and Director of
Director the Institute of
c/o Novartis AG Experimental Immunology at
Lichtstrasse 35 the University of Zurich
CH-4002 Basel, Switzerland
Prof. Ulrich Lehner, PhD Germany President and Chief
Director Executive Officer of Henkel
c/o Novartis AG KGaA
Lichtstrasse 35
CH-4002 Basel, Switzerland
Dr.-Ing. Wendelin Wiedeking Germany Chairman of Porsche AG
Director
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
Dr. Raymund Breu Switzerland Chief Financial Officer
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Dr. Urs Barlocher Switzerland Head of Legal and General
c/o Novartis AG Affairs
Lichstrasse 35
CH-4002 Basel, Switzerland
Jurgen Brokatzky-Geiger Germany Head of Human Resources
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Dr. Paul Choffat Switzerland Head of Novartis Consumer
c/o Novartis AG Health
Lichstrasse 35
CH-4002 Basel, Switzerland
Thomas Ebeling Germany Head of Pharmaceuticals
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Mark C. Fishman USA Head of Biomedical Research
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Steven Kelmar USA Head of Public Affairs and
c/o Novartis AG Communications
Lichstrasse 35
CH-4002 Basel, Switzerland
DIRECTORS AND EXECUTIVE OFFICERS OF NOVARTIS PHARMA
The name, address, citizenship and present principal occupation or
employment of each of the directors and executive officers of Novartis Pharma
are set forth below. Unless otherwise indicated below, each occupation set forth
opposite an individual's name refers to employment with Novartis Pharma.
NAME, FUNCTION AND BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
----------------------------------- ----------- ----------------------------
Daniel Vasella Switzerland Chairman of the Board of
Chairman of the Board of Directors, Directors, and Chief
Chief Executive Officer Executive Officer of
c/o Novartis AG Novartis
Lichtstrasse 35
CH-4002 Basel, Switzerland
Thomas Ebeling Germany Head of Novartis Pharma
Director
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Dr. Raymund Breu Switzerland Chief Financial Officer of
Director Novartis
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Andrin Oswald Switzerland Corporate Secretary
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
DIRECTORS AND EXECUTIVE OFFICERS OF NOVARTIS CORP
The name, address, citizenship and present principal occupation or
employment of each of the directors and executive officers of Novartis Corp are
set forth below. Unless otherwise indicated below, each occupation set forth
opposite an individual's name refers to employment with Novartis Corp.
NAME, FUNCTION AND BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
----------------------------------- ----------- ----------------------------
Daniel Vasella Switzerland Chairman of the Board of
Chairman of the Board of Directors Directors and Chief
c/o Novartis AG Executive Officer of
Lichtstrasse 35 Novartis
CH-4002 Basel, Switzerland
Terence Barnett Great Vice Chairman, President and
Vice Chairman of the Board of Britain Chief Executive Officer
Directors
c/o Novartis Corporation
608 Fifth Avenue
New York, NY 10020, USA
Dr. Raymund Breu Switzerland Chief Financial Officer of
Director Novartis
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Thomas Ebeling Germany Head of Novartis Pharma
Director
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
Fred Meyer Switzerland Retired
Director
c/o Omnicom Group, Inc.
437 Madison Avenue
New York, NY 10022, USA
Urs Naegelin Switzerland Executive Vice President and
c/o Novartis Corporation Chief Financial Officer
608 Fifth Avenue
New York, NY 10020, USA
Dr. Paul Choffat Switzerland Division Head Consumer
c/o Novartis AG Health
Lichstrasse 35
CH-4002 Basel, Switzerland
DIRECTORS AND EXECUTIVE OFFICERS OF BIOTECH
The name, address, citizenship and present principal occupation or
employment of each of the directors and executive officers of Biotech are set
forth below. Unless otherwise indicated below, each occupation set forth
opposite an individual's name refers to employment with Biotech.
NAME, FUNCTION AND BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
----------------------------------- ----------- ----------------------------
Urs Naegelin Switzerland Executive Vice President and
Chairman of the Board of Directors Chief Financial Officer of
c/o Novartis Corporation Novartis Corp
608 Fifth Avenue
New York, NY 10020, USA
Paulo Costa Brazil Chief Executive Officer of
Vice Chairman of the Board of Novartis Pharmaceuticals
Directors Corporation
c/o Novartis Pharmaceuticals
Corporation
59 Route 10
East Hanover, NJ 07936
Terance Barnett Great Vice Chairman, President and
Director Britain Chief Executive Officer of
c/o Novartis Corporation Novartis Corp
608 Fifth Avenue
New York, NY 10020, USA