DSP Buys 79% Of Sepracor Shares
Dainippon Sumitomo Pharma Co., through a subsidiary, completed its tender offer for all outstanding shares of Marlborough-based Sepracor Inc.
DSP's wholly-owned subsidiary Aptiom Inc. bought approximately 78.2 percent of all outstanding Sepracor shares for $23 in cash. In all, DSP took possession of 86.9 million shares of Sepracor common stock.
An additional 13.9 million shares were tendered by notice of guaranteed delivery. DSP said it would provide for a subsequent offering period that expires Oct. 19 in order to take possession of any remaining shares.
Sepracor, the pharmaceutical company that makes the sleep drug Lunesta and others, announced its $2.6 billion acquisition by DSP in early September.
Upon closing, Sepracor will become a wholly-owned subsidiary of DSP. The company will retain the Sepracor name and its operations will remain in Marlborough.
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