Medindia

X

Reckitt Benckiser Announces Completion of Cash Tender Offer for All Outstanding Shares of Adams Respiratory Therapeutics, Inc.

Friday, January 25, 2008 General News J E 4
Advertisement
CHESTER, N.J. and SLOUGH, England, Jan. 24 Reckitt Benckiser Group plc (RB.L) ("Reckitt Benckiser") announced today thatit has completed its previously announced cash tender offer (the "Offer") forall outstanding shares of common stock (the "Shares") of Adams RespiratoryTherapeutics, Inc. (Nasdaq: ARxT) ("Adams"). The Offer expired, as scheduled,at midnight, New York City time, at the end of Wednesday, January 23, 2008.The Offer was not extended.

A total of 34,623,895 Shares had been tendered and not withdrawn prior tothe expiration of the Offer, including 2,637,863 Shares subject to guaranteeddelivery procedures. Reckitt Benckiser has accepted for payment all validlytendered Shares through its indirect wholly owned subsidiary, Twickenham Inc.The Shares accepted for payment represent approximately 95.9% of theoutstanding Shares of Adams. Payment for these validly tendered Shares isexpected to be made promptly.

As the final step of the acquisition process, Reckitt Benckiser intends toconsummate a merger in which remaining Adams stockholders will receive thesame US$60.00 in cash per share paid in the Offer. Consummation of the mergeris expected to occur on January 29, 2008. Following the merger, Adams willbecome an indirect wholly owned subsidiary of Reckitt Benckiser.

Notes for Editors

Reckitt Benckiser is a world leader in household cleaning, health andpersonal care. The Company is truly global, with over 60 operating companiesand some 43 manufacturing facilities worldwide and has sales in 180 countries.Reckitt Benckiser employs 22,000 people around the world. Amongst theCompany's leading brands in household are Lysol, the world leader indisinfecting cleaning, Calgonit & Finish & Electrasol, the world leaders inautomatic dishwashing, Woolite, world leader in fine fabrics, Vanish &Spray'nWash, world leaders in fabric treatment, Airwick and Mortein, both No.2brands in air care and pest control respectively. In Health & Personal Care(25% of net revenues), leading brand positions include Veet, the world numberone depilatory and Dettol the world's leading antiseptic, Nurofen, the leadingEuropean analgesic, Strepsils, world number one in medicated sore throat,Gaviscon the No.1 gastro intestinal remedy in UK and Lemsip the UK no.1. incold/flu remedies.

Reckitt Benckiser is headquartered in Slough just outside London, UK andis listed on the London stock exchange. Reckitt Benckiser had net revenues ofpounds Sterling 4.92bn, operating profit of pounds 910m, and net income ofpounds 674m in 2006.

About Adams Respiratory Therapeutics, Inc.

Adams is a specialty pharmaceutical company focused on the late-stagedevelopment, commercialization and marketing of over-the-counter andprescription pharmaceuticals for the treatment of respiratory disorders.

SOURCE Adams Respiratory Therapeutics, Inc.
Advertisement


Advertisement

You May Also Like

Advertisement
View All

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions
s
Labopharm Receives FDA Response To Recent Appeal O...
S
Gentiva(R) Health Services Schedules Fourth Quarte...