MALVERN, Pa., Jan. 21, 2014 /PRNewswire/ -- Endo Health
Solutions (Nasdaq: ENDP) today announced that NuPathe Inc. (NASDAQ:
PATH) has terminated its merger agreement with Endo. Endo has
received a $5 million termination fee
from NuPathe.
"We believe that the agreement NuPathe has signed with Teva is
positive news for NuPathe stockholders and as a result we accepted
the termination fee and are now proceeding to withdraw our tender
offer," said Rajiv De Silva,
president and CEO of Endo. "We believe our offer represented
fair value for NuPathe. We will remain disciplined in our
approach to M&A and will look to deploy capital on other
opportunities to create value for our shareholders."
About Endo
Endo Health Solutions Inc. is a U.S.-based specialty healthcare
company with four distinct business segments that are focused on
branded and generic pharmaceuticals, devices and services and
provide quality products to its customers while improving the lives
of patients. Through its operating companies - AMS, Endo
Pharmaceuticals, HealthTronics and Qualitest - Endo is dedicated to
finding solutions for the unmet needs of patients.
About the Tender Offer
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A
SOLICITATION OF AN OFFER TO SELL SHARES OF NUPATHE.
The solicitation and the offer to purchase shares of NuPathe
common stock is being made pursuant to a Tender Offer Statement on
Schedule TO that an affiliate of Endo filed with the with the U.S.
Securities and Exchange Commission (SEC) on December 23, 2013. NuPathe also filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with the
SEC with respect to the tender offer on December 23, 2013.
The Offer to Purchase, the related Letter of Transmittal and
certain other offer documents, as well as the
Solicitation/Recommendation Statement, are available to all
stockholders of NuPathe at no expense to them. The Tender Offer
Statement and the Solicitation/Recommendation Statement are
available for free at the Commission's web site at www.sec.gov.
Free copies of these materials and certain other offering documents
will be made available by the information agent for the offer.
NUPATHE STOCKHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE
TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED
LETTER OF TRANSMITTAL AND CERTAIN OTHER OFFER DOCUMENTS) AND THE
SOLICITATION/RECOMMENDATION STATEMENT BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE ANY
DECISION IS MADE WITH RESPECT TO THE TENDER OFFER.
Additional Information and Where to Find It
In addition to the Solicitation/Recommendation Statement,
NuPathe files annual, quarterly and special reports, proxy
statements and other information with the Securities and Exchange
Commission. You may read and copy any reports, statements or other
information filed by NuPathe at the SEC public reference room at
100 F Street, N.E., Washington,
D.C. 20549.
Please call the Commission at 1-800-SEC-0330 for further
information on the public reference room. NuPathe's filings with
the Commission are also available to the public from commercial
document-retrieval services and at the website maintained by the
Commission at www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements including words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plan," "will," "may," "look
forward," "intend," "guidance," "future" or similar expressions are
forward-looking statements. Because these statements reflect our
current views, expectations and beliefs concerning future events,
these forward-looking statements involve risks and uncertainties.
Investors should note that many factors, as more fully described
under the caption "Risk Factors" in Endo's Form 10-K, Form 10-Q and
Form 8-K filings with the Securities and Exchange Commission and as
otherwise enumerated herein or therein, could affect Endo's future
financial results and could cause Endo's actual results to differ
materially from those expressed in forward-looking statements
contained in our Annual Report on Form 10-K. The forward-looking
statements in this press release are qualified by these risk
factors. These are factors that, individually or in the aggregate,
could cause our actual results to differ materially from expected
and historical results. Endo assumes no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future developments or otherwise.
SOURCE Endo Health Solutions