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news.Johnson & Johnson has extended its previously announced cash tender offer, through its wholly owned subsidiary, Binder Merger Sub, for all outstanding shares of common stock of Omrix Biopharmaceuticals until December 26, 2008, unless further extended.
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The tender offer was originally scheduled to expire on December 23, 2008. All other terms and conditions of the tender offer remain unchanged. As previously disclosed, the conditions to the tender offer relating to Israeli antitrust approval and other regulatory approvals have been satisfied, said Johnson & Johnson.
Upon the successful closing of the tender offer, stockholders of Omrix will receive $25 in cash for each share of Omrix common stock tendered in the tender offer, less any required withholding taxes. Following the completion of the acquisition, it is expected that Omrix will operate as a stand-alone entity reporting through Ethicon, a Johnson & Johnson company.