WOODCLIFF LAKE, N.J., Nov. 9 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. today announced that it has extended the expiration date and increased the purchase price of its previously announced “Modified Dutch Auction” tender offer, in which Par is offering 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.
The deadline for tendering convertible notes in the offering has been extended from 12:00 midnight, New York City time, on Wednesday, November 11, 2009, to 12:00 midnight, New York City time, on Tuesday, November 24, 2009, unless further extended.
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.
Forward-Looking Statements
This press release also contains “forward-looking statements” that are based on current expectations, estimates, beliefs, assumptions and projections about our business. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Risk factors that might affect such forward-looking statements include those set forth in our Schedule TO filed with the SEC on October 14, 2009 (as amended by Amendment No. 1 to Schedule TO filed with the SEC today), in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2008, in Item 1A of the Company’s subsequent Quarterly Reports on Form 10-Q, in other of the Company’s filings with the SEC from time to time, including Current Reports on Form 8-K, and on general industry and economic conditions. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.
CONTACT: Allison Wey, Par Pharmaceutical Companies, Inc., +1-201-802-4000
Web site: http://www.parpharm.com/
