Johnson & Johnson Completes Tender Offer for Omrix Biopharmaceuticals, Inc.
27 Dezember 2008 - 4:08PM
PR Newswire (US)
NEW BRUNSWICK, N.J., Dec. 27 /PRNewswire-FirstCall/ -- Johnson
& Johnson (NYSE:JNJ) today announced that stockholders of Omrix
Biopharmaceuticals, Inc. (NASDAQ:OMRI) ("Omrix") tendered
approximately 16,749,152 shares of Omrix common stock, including
approximately 1,293,924 shares subject to guaranteed delivery
procedures, representing approximately 97.8% of Omrix's outstanding
common stock. According to the terms of Johnson & Johnson's
tender offer, shares that were validly tendered and not withdrawn
have been accepted for payment. The tender offer expired at 12:00
midnight (Eastern time) on Dec. 26, 2008, and was not extended.
Johnson & Johnson intends to complete the acquisition of Omrix
through what is known as a "short-form merger," that is, without a
vote or meeting of Omrix's remaining stockholders. Each of the
remaining shares of Omrix common stock (other than shares owned by
stockholders of Omrix who properly exercised their appraisal rights
under Delaware law) will be converted into the right to receive
$25.00 per share, less any required withholding taxes, in cash and
without interest, which is the same amount per share that was paid
in the tender offer. The merger is expected to occur as soon as
practicable. Following the merger, Omrix is expected to operate as
a stand-alone entity reporting through ETHICON, Inc., a Johnson
& Johnson company and Omrix's common stock will no longer list
on NASDAQ. About Johnson & Johnson Caring for the world, one
person at a time...inspires and unites the people of Johnson &
Johnson. We embrace research and science -- bringing innovative
ideas, products and services to advance the health and well-being
of people. Our 119,400 employees at more than 250 Johnson &
Johnson companies work with partners in health care to touch the
lives of over a billion people every day, throughout the world.
Additional Information This press release is neither an offer to
purchase nor a solicitation of an offer to sell shares of Omrix.
DATASOURCE: Johnson & Johnson CONTACT: Press, Jeffrey J.
Leebaw, +1-732-524-3350, or mobile, +1-732-642-6608, or Bill Price,
+1-732-524-6623, or mobile, +1-732-668-3735, or Investors, Louise
Mehrotra, +1-732-524-6491, or Stan Panasewicz, +1-732-524-2524 Web
Site: http://www.jnj.com/
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