King Pharmaceuticals, Inc has extended its previously announced $37.00 per share cash tender offer for all outstanding shares of Class A Common Stock of Alpharma Inc. The tender offer, which was scheduled to expire at 5:00 pm, New York City time, on Friday, December 19, 2008, has been extended until 10:00 am, New York City time, on December 29, 2008, unless further extended. All other terms and conditions of the tender offer remain unchanged.
As of 5:00 pm, New York City time, on December 19, 2008, a total of 38,619,166 shares of Class A Common Stock of Alpharma (including 6,018,906 shares subject to guarantees of delivery), were validly tendered and not withdrawn pursuant to the tender offer. This represents approximately 92.2 per cent of all outstanding shares of Class A Common Stock of Alpharma.
Credit Suisse and Wachovia Securities are acting as financial advisors, and Dewey & LeBoeuf LLP is acting as legal counsel, to King. Innisfree M&A Incorporated is acting as information agent for King's tender offer.
King, headquartered in Bristol, Tennessee, is a vertically integrated branded pharmaceutical company.