Hospira has announced the extension of the tender offer by Discus Acquisition Corporation, a wholly owned Hospira subsidiary, to purchase all outstanding shares of the common stock of Javelin Pharmaceuticals.
Hospira extended the tender offer to Javelin based on its determination that the conditions of the offer had not been satisfied prior to the initial expiration date.
Hospira said it intends to continue to work with Javelin to confirm the satisfaction of the conditions, as soon as it is practical.
The offer, which was scheduled to expire at midnight, New York City time, on 18 May, has been extended until midnight, New York City time, on 2 June.
Upon expiration of the offer, if all conditions of the tender have been met, Hospira intends to acquire all of the remaining outstanding shares of Javelin common stock by means of a merger under Delaware law.