This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Caraco Pharmaceutical Laboratories Announces Successful Tender Offer To Acquire DUSA

DETROIT, Dec. 20, 2012 /PRNewswire/ -- Caraco Pharmaceutical Laboratories, Ltd. ("CPL"), a subsidiary of Sun Pharmaceutical Industries Limited ("Sun Pharma"), today announced that in connection with the previously announced merger agreement, the tender offer by Caraco Acquisition Corporation, a wholly-owned subsidiary of CPL, to acquire all of the outstanding shares of common stock of DUSA Pharmaceuticals, Inc. (NASDAQ GM: DUSA) ("DUSA") for $8.00 per share, net to the seller thereof in cash, without interest thereon and less any applicable withholding taxes, expired at 12:00 Midnight, New York City time, on December 19, 2012 (at the end of the day on December 19, 2012). All shares that were validly tendered into the offer and not properly withdrawn will be accepted for payment and paid promptly in accordance with the terms of the offer.

The depositary for the tender offer has advised that, as of the offer's expiration, 20,946,624 shares of common stock of DUSA (excluding approximately 1,035,094 shares subject to guarantees of delivery) had been validly tendered and not properly withdrawn pursuant to the tender offer, which represents approximately 82.4% of the outstanding shares of DUSA.

CPL intends to promptly move forward with a "short-form" merger under New Jersey law after exercising its top-up option under the merger agreement, and DUSA will become a wholly owned subsidiary of CPL. The merger is expected to be completed on or about December 20, 2012. As a result of the merger, any shares of DUSA common stock (except for shares held by (i) DUSA as treasury stock or (ii) Sun Pharma, CPL or their direct or indirect subsidiaries) not previously tendered, will be cancelled and shall cease to exist and will be converted into the right to receive the same $8.00 per share in cash paid in the tender offer. Following the merger, DUSA's common stock will cease to be traded on The NASDAQ Global Market.

About Caraco Pharmaceutical Laboratories

Detroit-based Caraco Pharmaceutical Laboratories, Ltd. develops, manufactures, markets and distributes generic pharmaceuticals to the nation's largest wholesalers, distributors, drugstore chains and managed care providers.

SOURCE Caraco Pharmaceutical Laboratories, Ltd.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs