Celgene Corporation Commences Tender Offer for Receptos, Inc.
Celgene Corporation announced that its wholly-owned subsidiary, Strix Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Receptos, Inc.
PRESS RELEASE
SUMMIT, N.J.--(BUSINESS WIRE)-- Celgene Corporation (NASDAQ:CELG) today announced that its direct wholly-owned subsidiary, Strix Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Receptos, Inc. (NASDAQ: RCPT) at a price of $232.00 per share, net to the seller in cash, without interest and less required withholding taxes. The tender offer is being made in connection with the Agreement and Plan of Merger, dated July 14, 2015, by and among Celgene, Strix Corporation and Receptos, Inc.
The board of directors of Receptos has unanimously determined that the offer is fair, advisable and in the best interests of Receptos and its stockholders and recommends that the stockholders of Receptos accept the offer and tender their shares.
The tender offer is scheduled to expire at midnight EDT on Monday, August 24, 2015, unless extended.
Complete terms and conditions of the tender offer can be found in the Offer to Purchase, Letter of Transmittal and other related materials that will be filed by Celgene and Strix Corporation with the SEC on July 28, 2015. In addition, on July 28, 2015, Receptos will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC relating to the offer.
Copies of the Offer to Purchase, Letter of Transmittal and other related materials are available free of charge by contacting Morrow & Co., LLC the information agent for the tender offer, toll-free at (855) 201-1081 (or at +1 203 658-9400 collect if you are located outside the U.S. and Canada), or by email to
, and, when they become available, at the website maintained by the SEC at
. American Stock Transfer & Trust Company, LLC is acting as depositary for the tender offer.
