LAVAL, Quebec, Jan. 15, 2014 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX)
announced that the applicable waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with
respect to the previously announced tender offer by its indirect
wholly-owned subsidiary, Sapphire Subsidiary Corp. ("Purchaser"),
for all of the outstanding shares of common stock of Solta Medical,
Inc. (NASDAQ: SLTM) ("Solta") at a price of $2.92 per share, net to the seller in cash,
without interest (less any required withholding taxes) and
subsequent merger of Purchaser with Solta expired at 11:59 p.m., New York
City time on January 14,
2014. The expiration of the HSR waiting period satisfies one
of the conditions to consummate the tender offer.
About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, eye health, neurology, and
branded generics. More information about Valeant
Pharmaceuticals International, Inc. can be found at
www.valeant.com.
Forward-Looking Statements
This press release may contain forward-looking statements
regarding, among other things, the proposed acquisition by Valeant
of Solta and expected timing of the transaction. Because
these statements reflect Valeant's current views, expectations and
beliefs concerning future events, these forward-looking statements
involve risks and uncertainties. Investors should note that
many factors could affect the proposed business combination of the
companies and could cause actual results to differ materially from
those expressed in forward-looking statements contained in this
press release. These factors include, but are not limited to: the
risk that the acquisition will not close when expected or at all;
the risk that Valeant's business and/or Solta's business will be
adversely impacted during the pendency of the acquisition; the risk
that the operations of the two companies will not be integrated
successfully; and other risks and uncertainties, including those
detailed from time to time in the companies' periodic reports filed
with the Securities and Exchange Commission ("SEC") and in the case
of Valeant, the Canadian Securities Administrators ("CSA"),
including current reports on Form 8-K, quarterly reports on Form
10-Q and annual reports on Form 10-K, which have been filed with
the SEC and in the case of Valeant, the CSA. The
forward-looking statements in this press release are qualified by
these risk factors. The companies assume no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future developments or otherwise.
Additional Information and Where to Find It
This press release is neither an offer to purchase nor a
solicitation of an offer to sell shares of Solta. Valeant filed a
Tender Offer Statement on Schedule TO with the SEC on December 23, 2013. Solta filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with
respect to the offer on December 23,
2013. Stockholders of Solta are urged to read the
tender offer materials (including the Offer to Purchase, a related
Letter of Transmittal and certain other offer documents) and the
Solicitation/Recommendation Statement, in each case as amended (to
the extent applicable), because they contain important information
which should be read carefully before any decision is made with
respect to the tender offer. The Offer to Purchase, the related
Letter of Transmittal and certain other offer documents, as well as
the Solicitation/Recommendation Statement, have been made available
to all stockholders of Solta at no expense to them. The
Tender Offer Statement and the Solicitation/Recommendation
Statement are available to all stockholders of Solta free of charge
at the website maintained by the SEC at www.sec.gov. In addition,
the tender offer statement and other documents that Valeant files
with the SEC are and will be made available to all stockholders of
Solta free of charge at www.valeant.com. The
Solicitation/Recommendation Statement and the other documents filed
by Solta with the SEC are, and will be, made available to all
stockholders of Solta free of charge at www.Solta.com.
Contact Information:
Laurie W.
Little
949-461-6002
laurie.little@valeant.com
(Logo:
http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)
SOURCE Valeant Pharmaceuticals International, Inc.