Navigation Links
Forest Laboratories Responds To Unsolicited Mini-Tender Offer
Date:12/3/2008

NEW YORK, Dec. 3, 2008 /PRNewswire-FirstCall/ -- Forest Laboratories, Inc. (NYSE: FRX) today announced that it has been notified of an unsolicited mini-tender offer by TRC Capital Corporation (TRC) of Toronto, Canada, a private investment company. Forest Laboratories has received a copy of the tender offer to purchase up to 3.0 million outstanding shares of the company's common stock, which represents less than 1 per cent of its outstanding shares. The offer price of $20.35 per share represents a 4.0% discount to the $21.20 closing price of the shares on December 1, 2008, the day before the date of the offer to purchase document.

(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/FORESTLOGO )

Based on the terms of the offer, Forest recommends that stockholders not tender their shares in response to the mini-tender. Forest is not affiliated in any way with TRC Capital, the offer or the offer to purchase documentation.

Mini-tender offers are third party offers which seek to acquire less than 5% of a company's outstanding shares and which therefore are not subject to many procedural protections and disclosure and dissemination requirements of the Securities and Exchange Commission that apply to offers for more than 5% of a company's outstanding shares.

The Securities and Exchange Commission (SEC) has issued "Tips for Investors" regarding mini-tender offers to alert investors regarding these mini-tender offers, noting that some bidders make mini-tender offers at lower than market prices which may result in some investors failing to compare the offer price to the current market price. Investors should not assume that the price offered includes the premium usually present in larger, traditional tender offers. Forest Laboratories urges shareholders to obtain current market quotations for their Forest stock, consult with their broker or financial advisor and exercise caution with respect to TRC's offer or the offer documentation. The SEC's advisory may be found at http://www.404.gov/investor/pubs/minitend.html.

Forest also draws the attention of broker dealers and other market participants in the dissemination of the offer to the SEC's recommendations to broker dealers in these circumstances which can be found on the SEC website at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm and to Information Memo Number 01-27 issued by the New York Stock Exchange on September 28, 2001 regarding the dissemination of mini-tender offer materials, which can be found under the "Regulation-- Information Memos" tab on NYSE's website at http://www.nyse.com/audience/marketprofessionals.html. Forest requests that a copy of this press release be included with all distributions of materials relating to TRC's mini-tender offer.

Forest shareholders that have already tendered their shares are advised that they may withdraw their shares as described in TRC Capital's offer to purchase document prior to the expiration of the offer, which is currently scheduled to expire at 12:01 AM, EST on Wednesday, December 31, 2008.

About Forest Laboratories

Forest Laboratories (NYSE: FRX) is a U.S.-based pharmaceutical company with a long track record of building partnerships and developing and marketing products that make a positive difference in people's lives. In addition to its well-established franchises in therapeutic areas of the central nervous and cardiovascular systems, Forest's current pipeline includes product candidates in all stages of development and across a wide range of therapeutic areas. The company is headquartered in New York, NY. To learn more about Forest Laboratories, visit www.FRX.com.

Except for the historical information contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including the difficulty of predicting FDA approvals, the acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, the timely development and launch of new products, and the risk factors listed from time to time in Forest Laboratories' Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and any subsequent SEC filings.


'/>"/>
SOURCE Forest Laboratories, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Out of the woods: Physicians get urban disaster training in forests, gorges and waters
2. Forest Laboratories, Inc. Sets Date and Conference Call for Fiscal 2008 Second Quarter Earnings
3. Parasites a key to the decline of red colobus monkeys in forest fragments
4. Forest Laboratories and Cypress Bioscience to Host Webcast to Discuss Clinical Data Presentations for Milnacipran
5. Abbott Donates Cool Globe to Lake County Forest Preserves for Permanent Display at Greenbelt Cultural Center
6. Forest Laboratories, Inc. Sets Date and Conference Call for Fiscal 2008 Third Quarter Earnings
7. Forest Laboratories, Inc. and Merz Pharma GmbH & Co. KgaA File Lawsuits Against Several Companies for Patent Infringement
8. Lake Forest Hospital Proposes a New Health Care System in Lake County
9. Forest Laboratories Announces Resignation of Ivan Gergel, MD
10. Wake Forest to host nanomedicine workshop
11. Forest Laboratories, Inc. Sets Date and Conference Call for Fiscal 2008 Fourth Quarter Earnings
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... ... ... two months after the official release of The Private Collection – Edition 2017 at ... a second print-run of its lavish luxury travel coffee table book. , An ... at more than six kilos, retails at EUR 1,000 per copy and is packed ...
(Date:2/24/2017)... ... 24, 2017 , ... An in-depth computational analysis of genetic variants implicated in ... eight genes that may explain why susceptibility to one of the disorders could place ... published today in the journal npj Schizophrenia. , “There is a wealth of ...
(Date:2/24/2017)... ... February 24, 2017 , ... The Smart Machine Age is here, ... predict that 47 percent of all jobs in the United States may be taken ... The day of the aggressive know-it-all who steamrolls over colleagues is drawing to a ...
(Date:2/24/2017)... (PRWEB) , ... February 24, 2017 , ... ... and hearing disabilities, it is so critically important that we all are aware ... That is why Mediaplanet is proud to announce the launch of its newest ...
(Date:2/24/2017)... ... , ... The narrative in “ Signal 8: An Australian Paramedic’s Story ” ... paramedic experiences. Schanssema describes the tragedies he saw, as well as his struggles with ... Schanssema, initially unsure of the career path he wanted to take, found fulfillment in ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... 24, 2017 Following receiving ... Israel , s AMAR is a major milestone ... M w ound care market in ... BST for inclusion in the National Health Basket ...   E-QURE Corp. (OTCQB: EQUR), a leader in ...
(Date:2/24/2017)... Research and Markets has announced the addition of the "Dry ... offering. ... Dry eye Drugs Price Analysis and Strategies - 2016, provides drug pricing ... answers the following questions: What are the ... they positioned in the Global Dry eye market? What ...
(Date:2/24/2017)... Feb. 23, 2017 The U.S. Food ... PhenoTest BC Kit, performed on the Pheno System. ... that cause bloodstream infections and provide information about ... to (antibiotic sensitivity). The test also reduces the ... important information, which can guide antibiotic treatment recommendations ...
Breaking Medicine Technology: