Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Merck's Generic Pharmaceutica...(ent Payment unless their Notes are valid...),Health

Date:8/31/2007

ent Payment unless their Notes are validly tendered at or prior to the applicable Consent Payment Deadline and such tender offer is subsequently consummated. If a holder validly tenders Notes pursuant to a tender offer after the applicable Consent Payment Deadline, and such tender offer is consummated, such holder will be paid only the applicable Total Consideration less the Consent Payment even if the Proposed Amendments applicable to the Notes so tendered are adopted.

The Price Determination Time will be 2:00 p.m., New York City time, on September 14, 2007, unless extended by the Company in its sole discretion in respect of any series of Notes. In the event that a tender offer is extended, a new Price Determination Time may be established with respect to such tender offer, which will be not less than two nor more than ten business days prior to the new Expiration Time for such tender offer.

Mylan will pay for Notes purchased promptly following the Expiration Time of the applicable tender offer (each such date, the "Settlement Date"). In addition, Mylan will pay accrued and unpaid interest on tendered and accepted Notes to, but not including, the applicable Settlement Date.

The tender offer and consent solicitation for a series of Notes is separate from the tender offer and consent solicitation for the other series of Notes. Mylan reserves the right to extend, amend, waive the conditions to or terminate each tender offer and consent solicitation independently of the other tender offer and consent solicitation.

Mylan's obligation to accept, and pay for, Notes of a series validly tendered pursuant to a tender offer is conditioned upon the satisfaction or waiver of various conditions, including (i) the receipt of valid consents to the Proposed Amendments from holders of not less than a majority in aggregate principal amount of the Notes of such series, (ii) consummation of the Transaction and (iii) satisfaction of certain general conditions des
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SOURCE Mylan Laboratories Inc. Copyright©2007 PR Newswire. All rights reserved

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