By Kristin Jones
Pharmaceutical company Warner Chilcott PLC (WCRX) and four other
companies unveiled stock offerings after hours, sending shares
down.
Warner Chilcott said that funds affiliated with Bain Capital
Partners, J.P. Morgan Partners, Thomas H. Lee Partners, L.P., and
members of Warner Chilcott's senior management are offering an
undisclosed number of shares. The three firms each own a stake of
less than 1% in Warner Chilcott, which won't receive any proceeds
from the sale. The maker of women's healthcare and dermatology
products said in April that it was holding talks with potential
buyers as part of a broad review of options for its business. The
company reported last month second-quarter earnings fell 26% on a
steep decline in health-care product sales. Trading in Warner
Chilcott shares was halted briefly after hours, but has since
resumed. The stock is down 8.4% to $13 in late trading.
BreitBurn Energy Partners L.P. (BBEP) is offering 10 million
common units representing limited-partner interests in the energy
company. BreitBurn, which had around 69.1 million units outstanding
as of Aug. 7, plans to use to proceeds to pay down debt. Units fell
4.2% to $18.48 in after-hours trading.
Enbridge Energy Partners L.P. (EEP) has commenced an offering of
around 14 million Class A units representing limited-partner
interests. The oil and gas transporter expects to use the proceeds
to fund a part of its capital expansion projects or for general
purposes. Enbridge had around 238.1 million Class A units
outstanding as of July 31. The equity was down 4.2% to $28.46 after
hours.
Zillow Inc. (Z) said it will offer 3.18 million Class A shares
as the real-estate information provider raises funds for general
purposes, which may include working capital, sales and marketing
and other expenses. Zillow, which had roughly 21 million Class A
shares outstanding as of July 31, may also use the proceeds for
acquisitions. Shares fell 2.9% to $41.20 in after-hours
trading.
Home Loan Servicing Solutions Ltd. (HLSS) said it is commencing
a public offering of 11.5 million shares, intending to use the
proceeds to buy the right to receive servicing and other fees and
assets from Ocwen Loan Servicing LLC. Home Loan Servicing Solutions
had around 14.2 million shares outstanding as of July 16. Shares
fell 2.8% to $14.90 in after-hours trading.
Write to Kristin Jones at kristin.jones@dowjones.com
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