| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for IVAX Corp. > News item |
IVAX starts change-of-control tender for 4.5% convertibles
New York, Feb. 22 - IVAX Corp. said it has begun a tender offer for its 4.5% convertible senior subordinated notes due 2008. The offer is required following the acquisition of IVAX by Teva Pharmaceutical Industries Ltd.
IVAX is offering par plus accrued interest up to but excluding April 8 of $17.88 per $1,000 principal amount.
If all the notes are tendered, IVAX will be required to pay $235.24 million. Funding will come from cash on hand.
The offer ends at 5 p.m. ET on March 24. Tendered convertibles will be purchased on April 10.
The paying agent is U.S. Bank NA (contact Specialized Finance Department at 800 934-6802).
IVAX is a subsidiary of Jerusalem-based pharmaceutical company Teva.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.