Navigation Links
Par Pharmaceutical Announces Results of Its 'Modified Dutch Auction' Tender Offer
Date:11/25/2009

WOODCLIFF LAKE, N.J., Nov. 25 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced the results of its "Modified Dutch Auction" tender offer, in which Par offered to purchase, for cash, up to $65,000,000 aggregate principal amount, or up to approximately 82.7%, of its outstanding 2.875% Senior Subordinated Convertible Notes due 2010.

Based on the count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, $30,805,000 aggregate principal amount of the Notes were properly tendered and not withdrawn in the tender offer.

In accordance with the terms and conditions of the tender offer, and based on the count by the depositary, the Company has accepted for payment $30,805,000 aggregate principal amount of the Notes at a purchase price of $1,000 per $1,000 principal amount, for a total cost of $30,805,000 (excluding accrued interest and fees and other expenses in connection with the tender offer).

The aggregate principal amount of Notes that the Company will purchase represents approximately 39.2% of the currently outstanding principal amount of the Notes.

In the tender offer, the Company offered to purchase, for cash, up to $65,000,000 aggregate principal amount, or up to approximately 82.7%, of the outstanding Notes at a price not greater than $1,000.00 nor less than $982.50 per $1,000 principal amount, plus accrued and unpaid interest thereon.

JMP Securities LLC served as the dealer manager for the tender offer. American Stock Transfer & Trust Company, LLC served as the depositary for the tender offer, and Georgeson, Inc. served as the information agent for the tender offer. Holders of the Notes who have questions about the tender offer may call the dealer manager at (415) 869-4460, or the information agent at (888) 877-5360 (Toll Free) and (212) 440-9800 for banks and brokerage firms.

About Par Pharmaceutical

Par Pharmaceutical Companies, Inc. develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. For press releases and other company information, visit www.parpharm.com.

Forward-Looking Statements

This press release also contains "forward-looking statements" that are based on current expectations, estimates, beliefs, assumptions and projections about our business. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Risk factors that might affect such forward-looking statements include those set forth in our Schedule TO filed with the SEC on October 14, 2009 (as amended), in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2008, in Item 1A of the Company's subsequent Quarterly Reports on Form 10-Q, in other of the Company's filings with the SEC from time to time, including Current Reports on Form 8-K, and on general industry and economic conditions. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.

SOURCE Par Pharmaceutical Companies, Inc.


'/>"/>
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. 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 Mercks Generic Pharmaceutical Business
2. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
3. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
4. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
5. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
6. National Pharmaceutical Council Announces New Strategic Focus, Search for New Leadership
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Coreg(R)
8. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
9. Par Pharmaceutical Files Form 10-K for 2006 -- Company to Hold First Analysts Meeting September 28, 2007
10. Idenix Pharmaceuticals to Present at Two Upcoming Investor Conferences
11. Pharmaceutical Manufacturing Quality: Optimizing Your Internal Process for FDA Compliance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/17/2017)... ... January 17, 2017 , ... Mirror Mirror Beauty Boutique, ... highest honor of Diamond Level in Zeltiq’s Crystal Rewards Program. Practice founder, Paul Vitenas, ... this elite group of providers. , Produced by Zeltiq, CoolSculpting is approved by ...
(Date:1/17/2017)... ... January 17, 2017 , ... ... will lecture to primary eye care practitioners on the latest breakthroughs in the ... 13th Semi-Annual Continuing Education Symposium, according to eye surgeon, Jeffrey Martin, MD, FACS, ...
(Date:1/17/2017)... ... January 17, 2017 , ... Neil H. Greco Insurance Agency, a northern New ... the region, is launching a charity drive to raise awareness of heart disease and ... killer in America, and is responsible for 1 in every 4 deaths at the ...
(Date:1/17/2017)... ... January 17, 2017 , ... Livionex, Inc., a Silicon Valley ... double blind clinical study for its dental gel that shows significant reduction in plaque ... toothpaste containing triclosan. The study was conducted at the Beckman Laser Institute at UC ...
(Date:1/17/2017)... Tyler, TX (PRWEB) , ... January 17, 2017 ... ... serving Texas families from two offices in Tyler, has announced the latest beneficiary ... Red Ribbon Wish Network, a nonprofit organization dedicated to fulfilling the dreams of ...
Breaking Medicine News(10 mins):
(Date:1/17/2017)... 17, 2017   Tocagen Inc ., a clinical-stage, cancer-selective gene ... vice president, research and pharmaceutical development at Tocagen, will present at ... held Jan. 17-20 in Miami . ... ... manufacturing for replicating viruses - what to do when and why ...
(Date:1/17/2017)... Jan 17, 2017 Research and Markets has ... Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), Product (mAb, ... Forecast to 2021" report to their offering. ... The global active pharmaceutical ingredients ... USD 157.95 Billion in 2016, growing at a CAGR of 6.3% ...
(Date:1/17/2017)... , Jan. 17, 2017 Immune Pharmaceuticals (NASDAQ: ... company, announced today that it will hold a Satellite Symposium ... Acute Leukemias (ISAL) XVI in Munich, Germany ... "Reinforcing the Efficacy of Immunotherapy for the maintenance of ... on Monday February 20 th , 2017 from 12:45 – ...
Breaking Medicine Technology: