Actelion Ltd. Announces Successful Completion of its Cash Tender Offer for Shares of CoTherix, Inc.
Actelion Ltd. announced that an indirect wholly-owned subsidiary, Curl Acquisition Subsidiary, Inc., has acquired a majority of the shares of CoTherix, Inc. Curl Acquisition Subsidiary's cash tender offer to purchase all of the outstanding common stock of CoTherix expired, as scheduled, at midnight, Eastern time, on Monday, 8 January 2007.
Curl Acquisition Subsidiary, Inc. has been advised by Computershare, Inc., the depositary for the offer, that as of 6:30 p.m., Eastern time, on 8 January 2007, a total of 27,875,338 shares of CoTherix common stock was validly tendered and not withdrawn prior to the expiration of the offer, including 1,518,034 shares subject to guaranteed delivery procedures. Curl Acquisition Subsidiary has accepted all of these shares for payment. The shares accepted for payment represent approximately 97.1% percent of CoTherix's outstanding shares of common stock.
As the final step of the acquisition process, Curl Acquisition Subsidiary intends to consummate a merger with CoTherix in which the remaining CoTherix shareholders will receive the same $13.50 cash price per share paid in the tender offer.
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