Stiefel Laboratories begins cash tender offer for Barrier Therapeutics

By Lisa Kerner

Charlotte, N.C., July 8 - Stiefel Laboratories, Inc. subsidiary Bengal Acquisition Inc. began a cash tender offer to purchase all outstanding shares of common stock of Barrier Therapeutics, Inc. for $4.15 per share, net to the seller in cash, without interest.

The offer is slated to end at midnight ET on Aug. 4, a Stiefel news release stated.

Barrier's board of directors resolved to recommend that its stockholders tender their shares, it said in the release.

Information agent for the offer is Mellon Investor Services LLC (877 892-8805).

On June 23, Stiefel agreed to acquire Barrier for $4.15 per share, or approximately $148 million.

Stiefel is a Coral Gables, Fla., independent pharmaceutical company.

Barrier is a Princeton, N.J.-based pharmaceutical company with a wholly owned subsidiary in Geel, Belgium.

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