DUBLIN, July 12, 2016 /PRNewswire/ -- Jazz
Pharmaceuticals plc (Nasdaq: JAZZ) today announced the results of
its tender offer to purchase all of the outstanding shares of
common stock of Celator Pharmaceuticals, Inc. (NASDAQ: CPXX) at
$30.25 per share, net to the seller
in cash, without interest (less any required withholding taxes).
The tender offer is being effected by Jazz Pharmaceuticals'
indirect wholly-owned subsidiary, Plex Merger Sub, Inc.
The depositary for the tender offer has advised Jazz
Pharmaceuticals and Celator Pharmaceuticals that, as of the
expiration of the tender offer at one minute following 11:59 p.m. New York
City time, on July 11, 2016, a
total of 36,516,173 shares of Celator common stock had been validly
tendered and not withdrawn, representing approximately 81.13
percent of Celator's outstanding shares. In addition, the
depositary advised that Notices of Guaranteed Delivery have been
delivered with respect to 2,016,237 additional shares,
representing approximately 4.48 percent of Celator's
outstanding shares. All shares that were validly tendered and
not validly withdrawn during the initial offering period have been
accepted for payment.
The condition to the tender offer that a majority of Celator's
outstanding shares be validly tendered has now been satisfied and
Jazz Pharmaceuticals intends to complete its acquisition of Celator
promptly through a merger under Section 251(h) of the General
Corporation Law of the State of
Delaware ("DGCL"). In connection with the merger, each
share of common stock of Celator not tendered in the tender offer
(other than shares held by Celator and other than shares held by
Celator stockholders who are entitled and have properly demanded
appraisal in connection with the merger under Delaware law) will be converted into the right
to receive $30.25 per share, net to
the seller in cash, without interest (less any required withholding
taxes); the same price per share paid in the tender offer.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals
plc (Nasdaq: JAZZ) is an international biopharmaceutical
company focused on improving patients' lives by identifying,
developing and commercializing meaningful products that address
unmet medical needs. The company has a diverse portfolio of
products and product candidates, with a focus in the areas of sleep
and hematology/oncology. In these areas, Jazz Pharmaceuticals
markets Xyrem® (sodium oxybate) oral solution, Erwinaze®
(asparaginase Erwinia chrysanthemi) and Defitelio®
(defibrotide sodium) in the U.S. and markets Erwinase® and
Defitelio® (defibrotide) in countries outside the U.S. For
more information, please visit www.jazzpharmaceuticals.com.
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SOURCE Jazz Pharmaceuticals plc