Merck & Co., On Behalf Of Its Wholly Owned Subsidiary, Cubist Pharmaceuticals, Inc., Announces Tender Offer For Cubist’s 2.50% Convertible Senior Notes Due 2017, 1.125% Convertible Senior Notes Due 2018 And 1.875% Convertible Senior Notes Due 2020

KENILWORTH, N.J.--(BUSINESS WIRE)--Merck (NYSE:MRK), known as MSD outside the United States and Canada, on behalf of its wholly owned subsidiary Cubist Pharmaceuticals, Inc., today announced that, in connection with the completion of the acquisition of Cubist by Merck, Cubist has commenced a tender offer (the “Convertible Notes Tender Offer”) to repurchase, at the option of each holder, any and all of its outstanding 2.50% Convertible Senior Notes due 2017 (the “2017 Convertible Notes”), 1.125% Convertible Senior Notes due 2018 (the “2018 Convertible Notes”) and 1.875% Convertible Senior Notes due 2020 (the “2020 Convertible Notes” and together with the 2017 Convertible Notes and 2018 Convertible Notes, the “Convertible Notes”). Earlier in the day on January 21, 2015, Merck completed the tender offer for all of the outstanding shares of common stock of Cubist, consummated the merger of Cubist into Mavec Corporation, Inc., a wholly owned subsidiary of Merck, and terminated trading of Cubist’s common stock on the Nasdaq Global Select Market, each of which constituted a Fundamental Change (as defined in each of the indentures governing the Convertible Notes (the “Indentures”)) triggering Cubist’s obligation to commence the Convertible Notes Tender Offer.

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