Omnicare Announces Expiration of Its Tender Offer to Acquire PharMerica
(Thomson Reuters ONE) -
COVINGTON, Ky., February 21, 2012 - Omnicare, Inc. (NYSE:OCR) today announced
that it has allowed its tender offer to acquire all of the outstanding shares of
PharMerica Corporation (NYSE: PMC) common stock for $15.00 per share in cash to
expire at 5:00 p.m., New York City time on February 17, 2012. At the expiration
of the offer, certain conditions to the offer had not been satisfied and
Omnicare had not waived those conditions. No shares of common stock of
PharMerica were purchased by Omnicare pursuant to the offer, and all tendered
shares will be returned promptly. Omnicare issued the following statement:
"While we continue to strongly disagree with the FTC's decision to seek to block
the proposed transaction, we do not believe it is prudent to invest significant
time and money in a lawsuit at this time. Throughout this process we made a
good faith effort to reach a resolution with the FTC and put forth a number of
reasonable solutions. After careful consideration, including the rejection of
our offers to resolve the alleged concerns through a consent agreement that
encompassed divestitures, and a review of Omnicare's many other compelling
growth opportunities, we have concluded that it is in the best interests of
Omnicare shareholders, customers and employees to allow the tender offer to
expire.
"Omnicare's business is performing extremely well and is poised for solid growth
in 2012 and beyond. There are many factors driving our success, including,
among others, our focus on creating efficiencies as we continue our transition
to an operationally driven company; ability to share in the benefit with our
customers from the introduction of generic drugs; and strategies that are
designed to drive growth in our long-term care business as well as in our fast-
growing Specialty Care Group. We thank the many Omnicare and PharMerica
shareholders who supported our proposal as well as our employees who remained
focused on executing on our business objectives throughout this process.
"We look forward to providing additional details on our strategies when we
release our fourth-quarter and full-year 2011 results on February 23, 2012."
About Omnicare
Omnicare, Inc., a Fortune 400 company based in Covington, Kentucky, provides
comprehensive pharmaceutical services to patients and providers across North
America. As the market-leader in professional pharmacy, related consulting and
data management services for skilled nursing, assisted living and other chronic
care institutions, Omnicare leverages its unparalleled clinical insight into the
geriatric market along with some of the industry's most innovative technological
capabilities to the benefit of its long-term care customers. Omnicare also
provides key commercialization services for the bio-pharmaceutical industry and
end-of-life disease management through its Specialty Care Group. For more
information, visit www.omnicare.com.
Forward-looking Statements
In addition to historical information, this communication contains certain
statements that constitute "forward-looking statements." These forward-looking
statements include, but are not limited to, all statements regarding the intent,
belief or current expectations regarding the matters discussed or incorporated
by reference in this communication (including, but not limited to, statements as
to "beliefs," "expectations," "anticipations," "intentions" or similar words)
and all statements which are not statements of historical fact. Such forward-
looking statements, together with other statements that are not historical, are
based on management's current expectations and involve known and unknown risks,
uncertainties, contingencies and other factors that could cause results,
performance or achievements to differ materially from those stated. These risks
and uncertainties include, but are not limited to, the performance of Omnicare's
institutional pharmacy business, business conditions in the institutional
pharmacy industry generally, the inability to expand geographically as
anticipated, the inability to leverage services and capabilities among
Omnicare's network of institutional pharmacies as anticipated, the effectiveness
of Omnicare's strategy in the institutional pharmacy business and the risks and
uncertainties described in Omnicare's Form 10-K, Form 10-Q and Form 8-K reports
filed with the SEC. Should one or more of these risks or uncertainties
materialize or should underlying assumptions prove incorrect, Omnicare's actual
results, performance or achievements could differ materially from those
expressed in, or implied by, such forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Except as otherwise required by law, Omnicare
does not undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
# # #
Contacts:
Omnicare
Patrick C. Lee
(859) 392-3444
patrick.lee(at)omnicare.com
Joele Frank, Wilkinson Brimmer Katcher
Andy Brimmer / Jamie Moser
(212) 355-4449
abrimmer(at)joelefrank.com
jmoser(at)joelefrank.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Omnicare via Thomson Reuters ONE
[HUG#1587256]
Unternehmensinformation / Kurzprofil:
Datum: 21.02.2012 - 14:00 Uhr
Sprache: Deutsch
News-ID 116806
Anzahl Zeichen: 6410
contact information:
Town:
Covington, KY
Kategorie:
Business News
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