- Amended tender offer statement by Third Party (SC TO-T/A)
20 Octubre 2009 - 7:32AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE
TO/A
TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR
SECTION 13(E)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
SEPRACOR INC.
(Name of Subject Company)
APTIOM, INC.
DAINIPPON
SUMITOMO PHARMA CO., LTD.
(Names of Filing Persons
(Offerors))
COMMON STOCK, PAR VALUE $0.10 PER SHARE
(INCLUDING ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS)
(Title of Class of
Securities)
817315104
(CUSIP Number of Class of
Securities)
Noriaki Okuda
Director, Legal Affairs
Dainippon Sumitomo Pharma Co., Ltd.
6-8, Doshomachi 2-Chome, Chuo-Ku, Osaka, 541-0045, Japan
Tel: +81-6-6203-4690
Fax: +81-6-6203-2129
(Name, Address and Telephone
Number of Person Authorized
to Receive Notices and
Communications on Behalf of Filing Persons)
Copies to:
Toby S. Myerson, Esq.
Ariel J. Deckelbaum, Esq.
1285 Avenue of the Americas
New York, NY 10019-6064
United States
Phone 212-373-3000
Fax 212-757-3990
CALCULATION OF FILING FEE
Transaction Valuation*
|
|
Amount of Filing Fee**
|
$2,580,590,247
|
|
$143,996.94
|
*
Estimated for
purposes of calculating the filing fee only. This amount is based on the offer
to purchase at a purchase price of $23.00 cash per share (i) all
110,992,118 outstanding shares of common stock of Sepracor; (ii) all
restricted stock units with respect to 58,711 shares of common stock of
Sepracor; and (iii) all outstanding options with an exercise price equal
to or less than $23.00 with respect to 4,376,328 shares of common stock of Sepracor
net of the weighted average exercise price of $16.96 per share option, in each
case as of August 31, 2009, the most recent practicable date.
**
The amount of
the filing fee is calculated in accordance with Rule 0-11 of the
Securities Exchange Act of 1934, as amended, by multiplying the transaction
valuation by 0.00005580.
x
Check box if
any part of the fee is offset as provided by Rule 0-11(a)(2) and
identify the filing with which the offsetting fee was previously paid. Identify
the previous filing by registration statement number, or the Form or
Schedule and the date of its filing.
Amount Previously Paid:
|
|
$143,996.94
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Filing Party:
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Aptiom, Inc. and Dainippon Sumitomo Pharma Co., Ltd.
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Form or Registration No.:
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Schedule TO
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Date Filed:
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|
September 15, 2009
|
o
Check the box
if the filing relates solely to preliminary communications made before the
commencement of a tender offer.
Check the appropriate boxes below to
designate any transactions to which the statement relates:
x
third-party
tender offer subject to Rule 14d-1.
o
issuer tender
offer subject to Rule 13e-4.
o
going-private
transaction subject to Rule 13e-3.
o
amendment to
Schedule 13D under Rule 13d-2.
Check the following box if the filing is a
final amendment reporting the results of the tender offer.
x
This Amendment No. 4
(this
Amendment
) amends and supplements the
Tender Offer Statement on Schedule TO filed on September 15, 2009, as
amended and supplemented by Amendment No. 1 filed on September 24,
2009, Amendment No. 2 filed on October 2, 2009 and Amendment No. 3
filed on October 14, 2009 (as so amended and supplemented, the
Schedule TO
) by Aptiom, Inc. (
Offeror
), a Delaware corporation and an
indirect wholly-owned subsidiary of Dainippon Sumitomo
Pharma Co., Ltd. (
DSP
),
a corporation organized under the laws of Japan, to purchase all of the
outstanding shares of common stock, par value $0.10 per share (together with
the associated preferred stock purchase rights, each a
Share
and collectively, the
Shares
), of Sepracor Inc., a
Delaware corporation (
Sepracor
),
at a purchase price of $23.00 per Share, net to the seller in cash, without
interest thereon and less any applicable withholding taxes, upon the terms and
subject to the conditions set forth in the Offer to Purchase dated September 15,
2009 (the
Offer to Purchase
)
and the related Letter of Transmittal (the
Letter
of Transmittal
which, together with the Offer to Purchase, as each
may be amended and supplemented from time to time, constitute the
Offer
). The Schedule TO was filed on
behalf of Offeror and DSP. Capitalized
terms used and not otherwise defined herein shall have the meanings ascribed to
such terms in the Offer to Purchase.
The information in the Offer
to Purchase and the Letter of Transmittal is incorporated into this Amendment
by reference to all of the applicable items in the Schedule TO, except that
such information is hereby amended and supplemented to the extent provided
herein.
ITEM 11. ADDITIONAL INFORMATION
Item 11 of the Schedule TO
is hereby amended and supplemented as follows:
The Subsequent Offering
Period of the Offer expired at 5:00 p.m., New York City time, on Monday, October 19,
2009. According to the Depositary, as of the expiration of the Subsequent
Offering Period, a total of approximately 96,590,423 Shares were validly
tendered and not withdrawn in the Offer, which represent approximately 86.9% of
all issued and outstanding shares of Sepracor Common Stock. Offeror has
accepted for payment all Shares that were validly tendered and not withdrawn
(if applicable) in the Offer, and payment for such Shares has or will be made
promptly, in accordance with the terms of the Offer.
Pursuant to the terms of the
Merger Agreement, Offeror is exercising its option (the
Top-Up
Option
) to purchase the number of shares of Sepracor Common Stock
(the
Top-Up Option Shares
) that, when added
to the number of Shares owned by Offeror immediately prior to the exercise of
the Top-Up Option, including all Shares validly tendered and not properly
withdrawn (if applicable) in the Offer, constitutes at least one share more
than 90% of the number of shares of Sepracor Common Stock then outstanding
(after giving effect to the issuance of the Top-Up Option Shares) for a
purchase price per Top-Up Option Share equal to the Offer Price. The closing of the purchase by Offeror of the
Top-Up Option Shares (the
Top-Up Option Closing
)
is currently scheduled to occur on October 20, 2009.
Following the Top-Up Option
Closing,
DSP
currently
intends to effect the Merger on October 20,
2009 in accordance with the short-form merger provisions of the DGCL, without
prior notice to, or any action by, any Sepracor stockholder other than
Offeror. At the Merger Effective Time,
each outstanding Share (other than any Shares held in the treasury of Sepracor
or owned by DSP or Offeror or any direct or indirect subsidiary of DSP or
Offeror or of Sepracor) will be automatically canceled and, subject to the
exercise of appraisal rights under the DGCL, converted into the right to
receive an amount in cash equal to the Offer Price. Following the Merger Effective Time, Sepracor
will continue as the surviving corporation and will be an indirect wholly-owned
subsidiary of DSP. In addition,
following the Merger Effective Time, shares of Sepracor Common Stock will cease
to be traded on the NASDAQ Global Select Market and Sepracor will no longer
have reporting obligations under the Securities Exchange Act of 1934.
ITEM 12. EXHIBITS
Item 12 of the Schedule TO
is hereby amended and supplemented by adding the following exhibit:
(a)(5)(E) Joint Press
Release, dated October 20, 2009, issued by DSP and Sepracor.
2
SIGNATURES
After due inquiry and to the
best of my knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.
Dated: October 20, 2009
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APTIOM, INC.
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By:
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/s/ Nobuhiko Tamura
|
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Name:
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Nobuhiko Tamura
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Title:
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President
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Dated: October 20, 2009
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DAINIPPON SUMITOMO PHARMA CO., LTD.
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By:
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/s/ Yutaka Takeuchi
|
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Name:
|
Yutaka Takeuchi
|
|
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Title:
|
Member, Board of Directors,
and Executive Officer
|
3
EXHIBIT INDEX
Exhibit
Number
|
|
Document
|
|
|
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(a)(1)(A)*
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|
Offer to Purchase,
dated September 15, 2009.
|
(a)(1)(B)*
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Form of Letter of
Transmittal.
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(a)(1)(C)*
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Form of Notice of
Guaranteed Delivery.
|
(a)(1)(D)*
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|
Form of Letter to
Brokers, Dealers, Commercial Banks, Trust Companies and other Nominees.
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(a)(1)(E)*
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|
Form of Letter to
Clients for Use by Brokers, Dealers, Banks, Trust Companies and other
Nominees.
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(a)(1)(F)*
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|
Guidelines for
Certification of Taxpayer Identification Number on Substitute Form W-9.
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(a)(1)(G)*
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|
Form of Summary
Advertisement as published in
The Wall
Street Journal
on September 15, 2009.
|
(a)(5)(A)*
|
|
Joint Press Release,
dated September 3, 2009, issued by DSP and Sepracor (incorporated by
reference to the Schedule TO-C filed by Offeror and DSP with the SEC on
September 3, 2009).
|
(a)(5)(B)*
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|
Additional Press
Release, dated September 3, 2009, issued by DSP (incorporated by
reference to the Schedule TO-C filed by Offeror and DSP with the SEC on
September 3, 2009).
|
(a)(5)(C)*
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Joint Press Release,
dated October 14, 2009, issued by DSP and Sepracor.
|
(a)(5)(D)*
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Additional Press
Release, dated October 14, 2009, issued by DSP.
|
(a)(5)(E)**
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Joint Press Release,
dated October 20, 2009, issued by DSP and Sepracor.
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(b)(1)*
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Debt Commitment Letter
between Sumitomo Mitsui Banking Corporation and DSP, dated August 31,
2009.
|
(c)
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Not applicable.
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(d)(1)*
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|
Agreement and Plan of
Merger, dated as of September 3, 2009, among DSP, Offeror and Sepracor
(incorporated by reference to Exhibit 2.1 to Sepracors Current Report
on Form 8-K, File No. 000-19410, filed with the SEC on
September 3, 2009).
|
(d)(2)*
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Confidentiality
Agreement, dated June 13, 2009, between Sepracor and DSP (incorporated
by reference to Exhibit (e)(3) to Schedule 14D-9 filed by
Sepracor with the SEC on September 15, 2009).
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(d)(3)*
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Exclusivity Agreement,
dated as of August 17, 2009 (incorporated by reference to
Exhibit (e)(4) to the Schedule 14D-9 filed by Sepracor with
the SEC on September 15, 2009).
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(e)
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Not applicable.
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(f)
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Not applicable.
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(g)
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Not applicable.
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(h)
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Not applicable.
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*
Previously filed.
** Filed herewith.
4
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