WOODCLIFF LAKE, N.J., Nov. 25 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. 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.
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).
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.
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.
CONTACT: Allison Wey, Par Pharmaceutical Companies, Inc., +1-201-802-4000
Web site: http://www.parpharm.com/
