Stiefel accepts 97% of Barrier Therapeutics' shares in offer ended Aug. 4

By Lisa Kerner

Charlotte, N.C., Aug. 5 - Stiefel Laboratories, Inc. subsidiary Bengal Acquisitions Inc. completed its $4.15-per-share tender offer for Barrier Therapeutics, Inc. as planned on Aug. 4.

The offer began on July 8.

Bengal accepted for payment 34,266,494 shares, which were validly tendered and not properly withdrawn, including 621,093 shares tendered under notices of guaranteed delivery, it was reported in an 8-K filed with the Securities and Exchange Commission.

According to the filing, the total number of shares tendered and accepted represents about 97% of Barrier's outstanding shares.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.