LAVAL, Quebec, Oct. 5, 2015 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX)
("Valeant") announced that the applicable waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with
respect to the previously announced tender offer by its indirect
wholly owned subsidiary, Blue Subsidiary Corp., for all of the
outstanding shares of common stock of Synergetics USA, Inc. (NASDAQ: SURG) ("Synergetics") at a
price per share of $6.50, net to the
holder in cash (less any applicable withholding taxes and without
interest), plus one contractual contingent value right per share,
which represents the right to receive up to two contingent
payments, if any, of up to $1.00 in
the aggregate net to the holder in cash (less any applicable
withholding taxes and without interest) was granted early
termination, effective October 5,
2015, by the U.S. Federal Trade Commission. The
waiting period was scheduled to expire at 11:59 p.m., New York
City time on October 7,
2015. The early termination of the HSR waiting period
satisfies one of the conditions to consummate the tender offer.
The completion of the tender offer remains subject to certain
other conditions as described in the Tender Offer Statement on
Schedule TO filed by Valeant on September
16, 2015, as amended. Subject to the satisfaction of
the other conditions to closing, the transaction is expected to
close in the fourth quarter of 2015.
About Valeant Pharmaceuticals International, Inc.
Valeant is a multinational, specialty pharmaceutical company
that develops, manufactures and markets a broad range of
pharmaceutical products and medical devices primarily in the areas
of dermatology, gastrointestinal disorder, eye health, neurology
and branded generics. More information about Valeant can be
found at www.valeant.com.
Forward-Looking Statements
This press release may contain forward-looking statements
regarding, among other things, the proposed acquisition by Valeant
of Synergetics and expected timing of the transaction.
Because these statements reflect Valeant's current views,
expectations and beliefs concerning future events, these
forward-looking statements involve risks and uncertainties.
Investors should note that many factors could affect the proposed
business combination of the companies and could cause actual
results to differ materially from those expressed in
forward-looking statements contained in this press release.
These factors include, but are not limited to: the risk that
the acquisition will not close when expected or at all; the risk
that Valeant's business and/or Synergetics' business will be
adversely impacted during the pendency of the acquisition; the risk
that the operations of the two companies will not be integrated
successfully; and other risks and uncertainties, including those
detailed from time to time in the companies' periodic reports filed
with the Securities and Exchange Commission ("SEC") and, in the
case of Valeant, the Canadian Securities Administrators ("CSA"),
including current reports on Form 8-K, quarterly reports on Form
10-Q and annual reports on Form 10-K, which have been filed with
the SEC and in the case of Valeant, the CSA. The
forward-looking statements in this press release are qualified by
these risk factors. The companies assume no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future developments or otherwise.
Additional Information and Where to Find It
This press release is neither an offer to purchase nor a
solicitation of an offer to sell shares of Synergetics. Valeant
filed a Tender Offer Statement on Schedule TO with the SEC on
September 16, 2015. Synergetics filed
a Solicitation/Recommendation Statement on Schedule 14D-9 with
respect to the offer on September 16,
2015. Stockholders of Synergetics are urged to read the
tender offer materials (including the Offer to Purchase, a related
Letter of Transmittal and certain other offer documents) and the
Solicitation/Recommendation Statement, in each case as amended (to
the extent applicable), because they contain important information
which should be read carefully before any decision is made with
respect to the tender offer. The Offer to Purchase, the related
Letter of Transmittal and certain other offer documents, as well as
the Solicitation/Recommendation Statement, have been made available
to all stockholders of Synergetics at no expense to them. The
Tender Offer Statement and the Solicitation/Recommendation
Statement are available to all stockholders of Synergetics free of
charge at the website maintained by the SEC at www.sec.gov. In
addition, the tender offer statement and other documents that
Valeant files with the SEC are and/or will be made available to all
stockholders of Synergetics free of charge at
www.valeant.com. The Solicitation/Recommendation Statement
and the other documents filed by Synergetics with the SEC are, and
will be, made available to all stockholders of Synergetics free of
charge at www.synergeticsusa.com.
Contact Information:
Laurie W.
Little
949-461-6002
laurie.little@valeant.com
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SOURCE Valeant Pharmaceuticals International, Inc.