DUBLIN, Ohio, July 21 /PRNewswire-FirstCall/ -- Cardinal Health, Inc. , the leading provider of products and services supporting the health care industry, announced today that as of 12 midnight New York City time, on July 20th, 2004 (the "Consent Payment Deadline"), it had received valid tenders and consents from holders of $164,425,000 aggregate principal amount of its 7.25% Senior Subordinated Notes due 2011 (CUSIP No. 011638AD5, the "Notes"), which amount represents approximately 94% of the outstanding principal amount of the Notes, in connection with the previously announced cash tender offer and consent solicitation for the Notes. This satisfies the Consent Condition as defined in ALARIS' Offer to Purchase and Consent Solicitation Statement dated July 7th, 2004 (the "Offer to Purchase").
Notes tendered on or prior to the Consent Payment Deadline may no longer be withdrawn and the related consents may not be revoked, except in limited circumstances described in the Offer to Purchase. Accordingly, ALARIS and the Trustee under the indenture intend to promptly execute and deliver a supplemental indenture containing the proposed amendments. As more fully described in the Offer to Purchase, the proposed amendments will eliminate substantially all restrictive covenants and certain event of default provisions. The proposed amendments will not become operative, however, unless and until ALARIS accepts the Notes for purchase in accordance with the terms and subject to the conditions set forth in the Offer to Purchase. If the proposed amendments become operative, holders of all the Notes then outstanding will be bound by the amendments.
A consent payment of $30 per $1,000 principal amount of the Notes (the "Consent Payment") will be paid to holders of Notes who validly tendered and did not withdraw such Notes prior to 12 midnight, New York City time, on July 20, 2004, if and only if ALARIS accepts for payment Notes tendered in the tender offer. Holders whose valid tenders are received after 12 midnight, New York City time, on July 20, 2004, but prior to the expiration of the tender offer, which is 12 midnight, New York City time, on August 3rd, 2004, will receive only the tender offer consideration, but not the Consent Payment.
Questions and requests for assistance or additional offer materials may be directed to MacKenzie Partners, Inc., 105 Madison Avenue, New York, New York 10016, Holders Call Toll-Free: (800) 322-2885, Banks and Brokers Call Collect: (212) 929-5500.
This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any securities. The offer is being made solely pursuant to the Offer to Purchase.
About Cardinal Health
Cardinal Health, Inc. ( http://www.cardinal.com/ ) is the leading provider of products and services supporting the health care industry. Cardinal Health develops, manufactures, packages and markets products for patient care; develops drug-delivery technologies; distributes pharmaceuticals, medical, surgical and laboratory supplies; and offers consulting and other services that improve quality and efficiency in health care. Headquartered in Dublin, Ohio, Cardinal Health employs more than 50,000 people on six continents and produces annual revenues of more than $50 billion. Cardinal Health is ranked No. 17 on the 2004 Fortune 500 list and was named one of the best U.S. companies by Forbes magazine for 2004.
Cardinal Health, Inc.