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Feb. 6, 2012 /PRNewswire/ -- Futuremed Healthcare Products Corporation ("
Futuremed") (TSX: FMD) and Cardinal Health Canada Inc. ("
Cardinal Health Canada"), a wholly-owned subsidiary of Cardinal Health, Inc. (NYSE: CAH), announced today that the expiry time of the offer by Cardinal Health Canada to acquire all of the outstanding common shares ("
Common Shares") of Futuremed for CAD
$8.15 per Common Share in cash (the "
Offer") has been further extended until
February 16, 2012, to allow the Commissioner of Competition to complete her review of the proposed acquisition. All other terms and conditions of the Offer remain as described in Cardinal Health Canada's Offer and take-over bid circular dated
November 14, 2011.
November 24, 2011, Futuremed and Cardinal Health Canada received Supplemental Information Requests for additional information required by the Competition Bureau to complete its review of the proposed acquisition pursuant to the
Competition Act (
Canada). The Supplemental Information Requests extended the waiting period applicable to the proposed acquisition to
February 10, 2012 (being the 30th day following receipt by the Competition Bureau of the requested information). Futuremed and Cardinal Health Canada continue to work with the Competition Bureau through its ongoing review.
The Offer is now open for acceptance until
8:00 p.m. (Eastern time) on
February 16, 2012 unless extended, and is conditional upon, among other things, customary regulatory approvals and there having been validly deposited (and not withdrawn) at least 66 2/3% of the outstanding Common Shares (on a fully-diluted basis). As at close of market on
February 6, 2012, 12,219,484 Common Shares have been tendered under the Offer, representing approximately 80% of the outstanding Common Shares (on a fully-diluted basis).
A notice announcing the extension of the Offer will be sent by Cardinal Health Canada to the shareholders of Futuremed. The notice will also be available under Futuremed's profile at
CIBC Mellon Trust Company is the depositary for the Offer. Shareholders can obtain copies of the take-over bid circular and related materials at no charge from the depositary at 1-800-387-0825 or by email at
email@example.com. The information agent for the Offer is Georgeson Inc. Inquiries should be directed to the information agent toll free at 1-866-856-4733. Additional copies of the take-over bid circular and related materials may also be obtained on request from the information agent.