Mgi Pharma Inc - Amended Statement of Ownership: Solicitation (SC 14D9/A)
January 28 2008 - 8:30AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14D-9
(Amendment No. 6)
SOLICITATION/RECOMMENDATION STATEMENT UNDER
SECTION 14(d)(4) OF THE SECURITIES EXCHANGE
ACT OF 1934
MGI
PHARMA, INC
.
(Name of Subject Company)
MGI
PHARMA, INC
.
(Name of Persons Filing Statement)
Common Stock, Par Value $0.01 per share
(including
the associated preferred stock purchase rights)
(Title of Class of Securities)
552880106
(CUSIP Number of Class of Securities)
E
ric P. Loukas
Executive
Vice President, Chief Operating Officer,
General
Counsel and Corporate Secretary
MGI
PHARMA, INC.
5775
West Old Shakopee Road, Suite 100
Bloomington,
Minnesota 55437-3174
(952)
346-4700
(Name, address and telephone numbers of person authorized to receive
notice and
communications on behalf of the persons filing
statement)
Copies
to:
Asher M. Rubin
Glenn
C. Campbell
William
I. Intner
Hogan &
Hartson L.L.P.
111 S. Calvert Street Suite 1600
Baltimore,
Maryland 21202
(410) 659-2700
o
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Check the box if the
filing relates solely to preliminary communications made before the
commencement of a tender offer.
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This Amendment No. 6 amends and supplements the
Solicitation/Recommendation Statement on Schedule 14D-9 filed on December 21,
2007 (as previously amended and supplemented by Amendment No. 1 on January 4,
2008 , Amendment No. 2 on January 11, 2008, Amendment No. 3 on January 17,
2008, Amendment No. 4 on January 22, 2008, and Amendment No. 5
on January 23, 2008, the Schedule 14D-9) with the Securities and
Exchange Commission (the SEC) by MGI PHARMA, INC., a Minnesota corporation
(the Company). The Schedule 14D-9
relates to the offer by Jaguar Acquisition Corp. (Offeror), a Minnesota
corporation and an indirect wholly-owned subsidiary of Eisai Co., Ltd., a
corporation organized under the laws of Japan (Parent), to purchase all of
the issued and outstanding shares of common stock, par value $0.01 per share,
of the Company (including the associated rights to purchase Series A
Junior Participating Preferred Stock of the Company, the Shares) at a
purchase price of $41.00 per Share, net to the holder thereof in cash, without
interest and subject to the applicable withholding of taxes, upon the terms and
subject to the conditions set forth in the Offer to Purchase dated December 21,
2007, as amended or supplemented from time to time, and the related Letter of
Transmittal.
Except as otherwise indicated, the information set
forth in the Schedule 14D-9 remains unchanged.
Capitalized terms used, but not defined, in this Amendment No. 6
have the meanings ascribed to them in the Schedule 14D-9.
Item 8.
Additional Information.
Item
8 is hereby amended and supplemented with the addition of the following
subsection at the end of Item 8:
Completion
of the Offer.
On January 26,
2008, Parent issued a press release announcing the completion of the
Offer. The Subsequent Offering Period expired at midnight, New York City
time, on Friday, January 25, 2008.
According to
Computershare Trust Company, N.A., the depositary for the Offer, as of
midnight, New York City time, on January 25, 2008, a total of 76,494,076
Shares were validly tendered in the initial offering period and the Subsequent
Offering Period of the Offer. Offeror
has accepted all validly tendered Shares for payment. As a result,
Offeror has acquired over 93.8% of the issued and outstanding Shares as of January 25,
2008. Based on the Offer Price, the
value of such Shares purchased by Offeror during the initial offer period and
the Subsequent Offering Period was approximately $3.1 billion. Payment for such Shares has been or will be
made promptly, in accordance with the terms of the Offer. Eisai has provided Offeror with sufficient
funds to purchase all Shares validly tendered in the Offer and will provide
funding for the Merger.
Parent and Offeror
also announced that they intend to complete the acquisition of the Company by
means of a short-form merger pursuant to Section 302A.621 of the
MBCA. Parent and Offeror expect to effect the Merger on or about January 28,
2008, or as soon thereafter as practicable. Pursuant to the Merger
Agreement, each issued and outstanding Share (other than Shares owned by Parent
and Offeror (not held on behalf of third parties), Shares owned by any subsidiary
of Parent (other than Offeror), Offeror or the Company, and Shares held by
shareholders who are entitled to and who have properly demanded appraisal of
such Shares under Minnesota law)
will be converted into the right to receive the same
$41.00 per Share, net to the holder of such Shares in cash, without interest
and subject to the applicable withholding of taxes, paid in the Offer. As a
result of the Merger, the Company will become an indirect wholly-owned
subsidiary of Parent.
The full text of the
press release is filed as Exhibit (a)(5)(D) to this Amendment No. 6
and is incorporated in this Amendment No. 6 by reference.
1
Item 9. Exhibits.
Item 9
of the Schedule 14D-9 is hereby amended and supplemented as follows:
Exhibit
No.
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Description
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(a)(1)(A)
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Offer to
Purchase, dated December 21, 2007 (incorporated by reference to
Exhibit (a)(1) to the Schedule TO).
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(a)(1)(B)
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Letter of
Transmittal (including Guidelines for Certification of Taxpayer
Identification Number (TIN) on Substitute Form W-9) (incorporated by
reference to Exhibit (a)(2) to the Schedule TO).
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(a)(1)(C)
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Notice of
Guaranteed Delivery (incorporated by reference to Exhibit (a)(3) to
the Schedule TO).
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(a)(1)(D)
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Letter to
Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees
(incorporated by reference to Exhibit (a)(4) to the Schedule TO).
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(a)(1)(E)
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Letter to
Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and
Other Nominees (incorporated by reference to Exhibit (a)(5) to the
Schedule TO).
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(a)(1)(F)
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Press Release
issued by Company on November 29, 2007 announcing that it was exploring
possible strategic alternatives.*
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(a)(1)(G)
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Press Release
issued by Parent and the Company on December 10, 2007 (incorporated by
reference to Exhibit 99.1 to the Companys Current Report on
Form 8-K filed on December 11, 2007).
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(a)(1)(H)
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Information
Statement Pursuant to Section 14(f) of the Securities Exchange Act
of 1934 and Rule 14f-1 thereunder (incorporated by reference to Annex I
attached to the Schedule 14D-9).*
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(a)(1)(I)
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MGI PHARMA, INC.
Employment and Benefit Q&As.*
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(a)(1)(J)
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Press Release
issued by the Company and Parent on January 17, 2008 announcing the
early termination of the waiting period under the HSR Act.*
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(a)(1)(K)
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Press Release
issued by Parent on January 23, 2008 (incorporated by reference to
Exhibit (a)(5)(F) to the Schedule T-O/A filed on January 23, 2008).
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(a)(2)
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Letter to
Shareholders from the President and Chief Executive Officer of
MGI PHARMA, INC., dated December 21, 2007.*
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(a)(5)(A)
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Opinion of
Lehman Brothers, Inc. to the Board of Directors of MGI PHARMA,
INC., dated December 10, 2007 (incorporated by reference to Annex II
attached to the Schedule 14D-9).*
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(a)(5)(B)
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Complaint filed
by L.A. Murphy in the Fourth Judicial District Court of the State of
Minnesota, County of Hennepin, on December 14, 2007.*
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(a)(5)(C)
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Complaint filed
by Judith Dreyer in the Fourth Judicial District Court of the State of
Minnesota, County of Hennepin, on December 28, 2007.*
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(a)(5)(D)
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Press Release
issued by Parent on January 28, 2008 (incorporated by reference to
Exhibit (a)(5)(G) to the Schedule T-O/A filed on January 28,
2008).
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2
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(e)(1)
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Agreement and
Plan of Merger, dated December 10, 2007, between MGI PHARMA, INC.,
a Minnesota corporation, Eisai Co., Ltd., a Japan corporation, and Jaguar
Acquisition Corp., a Minnesota corporation (incorporated by reference to
Exhibit 2.1 to the Companys Current Report on Form 8-K filed on
December 11, 2007).
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(e)(2)
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Form of
Termination Agreement, between MGI PHARMA, INC. and each of its Executive
Officers (incorporated by reference to Exhibit 10.1 to the Companys
Quarterly Report on Form 10-Q for the period ended March 31, 2007).
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(e)(3)
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Retention
Agreement, dated December 15, 2007, between Leon O. Moulder, Jr.
and Eisai Corporation of North America.*
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(e)(4)
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Retention Agreement,
dated December 15, 2007, between Mary Lynne Hedley and Eisai Corporation
of North America.*
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(e)(5)
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Confidentiality
Agreement, dated September 27, 2007, between MGI PHARMA, INC.
and Eisai Co., Ltd.*
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(e)(6)
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Amendment
No. 2 to Rights Agreement, dated December 20, 2007, to the Rights
Agreement, dated July 14, 1998, between the Company and Norwest Bank,
Minnesota, N.A. (now Wells Fargo Bank, N.A.).*
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*
Previously filed.
3
SIGNATURE
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.
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MGI PHARMA, INC.
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Date: January 28, 2008
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By:
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/s/ Eric P.
Loukas
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Name:
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Eric P. Loukas
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Title:
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Executive
Vice President, Chief Operating
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Officer,
General Counsel and Corporate
Secretary
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