TORONTO, 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.
On 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conditional upon, among other things, customary regulatory approvals and there having been validly deposited (and not withdrawn) at least 66 2/3% of the outstanding Common Shares (on a fully-diluted basis).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 www.sedar.com. 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 firstname.lastname@example.org. 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV