Pfizer Extends Subsequent Offering Period of Tender Offer for Shares of Encysive Pharmaceuticals
April 08 2008 - 7:10AM
Business Wire
Pfizer Inc (NYSE: PFE) announced today that Explorer Acquisition
Corp., a wholly-owned subsidiary of Pfizer, has extended the
subsequent offering period of its tender offer for all of the
outstanding shares of common stock of Encysive Pharmaceuticals Inc.
(NASDAQ: ENCY) to 5:00 p.m., New York City time, on April 14, 2008.
Pursuant to the tender offer, Explorer Acquisition Corp. is
offering to purchase shares of Encysive at a purchase price of
$2.35 per share, net to the seller in cash, without interest
thereon and less any required withholding taxes. The subsequent
offering period had been previously scheduled to expire at 5:00
p.m., New York City time, on April 7, 2008. According to the
depositary for the offer, a total of 67,435,726 shares
(representing approximately 83.3% of the outstanding shares), had
been tendered prior to such time. Georgeson is the Information
Agent for the tender offer. For questions and information about the
tender offer and subsequent offering period, please call Georgeson
at (212) 440-9800 (banks and brokerage firms) or toll-free at (800)
546-8249 (stockholders and all others). Additional Information This
press release is for informational purposes only and is neither an
offer to purchase nor a solicitation of an offer to sell
securities. The tender offer has been made pursuant to a tender
offer statement and related materials. The tender offer statement
(including the offer to purchase, letter of transmittal and related
tender offer documents) filed by Pfizer with the Securities and
Exchange Commission (the �SEC�) and the solicitation/recommendation
statement filed by Encysive with the SEC contain important
information which should be read carefully before any decision is
made with respect to the tender offer. The offer to purchase and
related materials as well as the solicitation/recommendation
statement may be obtained by Encysive stockholders at no charge by
directing a request by mail to Georgeson Inc., 199 Water Street,
26th Floor, New York, NY 10038, or by calling toll-free at
(800)�546-8249, and may also be obtained at no charge at the
website maintained by the SEC at http://www.sec.gov. DISCLOSURE
NOTICE: The information contained in this press release is as of
April 8, 2008. Except as required by law, Pfizer assumes no
obligation to update any forward-looking statements contained in
this release as a result of new information or future events or
developments. Some statements in this release may constitute
forward-looking statements. Pfizer cautions that these
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
indicated in the forward-looking statements, including the risk
that the merger following the tender offer may not be consummated
for various reasons, including the failure to satisfy the
conditions precedent to the completion of the acquisition. A
further list and description of risks and uncertainties can be
found in Pfizer�s Annual Report on Form 10-K for the fiscal year
ended December�31, 2007 and in its subsequently filed reports on
Form 8-K.
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