MYLAN LABORATORIES INC
No odd-lot preference
Read automatically from the filing
This offer mentions odd lots only to say they get no special treatment. Odd-lot tenders are prorated like everyone else's.
In a Dutch auction, tendering too high can cost you the priority. The company picks the lowest price that buys the shares it wants, and everyone at or below that price gets it. Tender above it and your shares come back unpurchased — and because you are not in the accepted pool at all, the odd-lot priority never applies. Most offers have a box meaning "accept whatever price is determined", which keeps you in the pool; the trade-off is that you give up any say in the price. The filing explains both.
| Status | Closed |
|---|---|
| Closing date | 2005-07-15 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Not stated |
| Price offered | USD $18.00 to $20.50 per share |
| Most an odd-lot tender could be | $1,782.00 to $2,029.50 |
Where each of these comes from
Every line above was read out of the filing. Here is the wording it was read from, so you can check it.
expiry = 2005-07-15...TS COMMON STOCK (INCLUDING THE ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS) AT A PURCHASE PRICE NOT GREATER THAN $20.50 NOR LESS THAN $18.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JULY 15, 2005 UNLESS THE OFFER IS EXTENDED Mylan Laboratories Inc. (“Mylan” or the “Company”) hereby offers to purchase up to 48,780,487 shares of its common stock, par value $0.50 per share (the “Shares”), at a purchase price of not greater than $20.50...
expiry = 2005-07-15...TS COMMON STOCK (INCLUDING THE ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS) AT A PURCHASE PRICE NOT GREATER THAN $20.50 NOR LESS THAN $18.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JULY 15, 2005, UNLESS THE OFFER IS EXTENDED. June 16, 2005 To Our Clients: Enclosed for your consideration are the Offer to Purchase, dated June 16, 2005 (the “Offer to Purchase”), and the related Letter of Transmittal (which together, as each may be su...
listed = True...m Merrill Lynch Capital Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated and on terms reasonably Table of Contents satisfactory to us, which will be sufficient to purchase the Shares pursuant to the Offer. See Sections 5, 7 and 9. The Shares are listed on the New York Stock Exchange (the “NYSE”) and trade under the symbol “MYL.” On June 13, 2005 the last full trading day before the announcement of the Offer, the last reported sale price of the Shares was $17.70 per Share. Shareholders are urged to obtain current market quotations for the Shares before deciding whether to tender their Shares. See Sections 8 and 10. O...
mechanism = DUTCH...ur sole discretion, to purchase additional Shares subject to applicable legal requirements. See Section 1. What will be the purchase price for the Shares and what will be the form of payment? • We are conducting the Offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your Shares. The price range for the Offer is $18.00 to $20.50 per Share. See Section 1. • We will select the lowest price per Share (the “Purchase Price”) that will allow us to buy 48,780,487 Shares or, if a lesser numbe...
must_tender_all = True...of the holder’s Shares are purchased in the Offer (for which the condition was not initially satisfied), by random lot, to the extent feasible. To be eligible for purchase by random lot, shareholders whose Shares are conditionally tendered must have properly tendered all of their Shares and not properly withdrawn them before the expiration of the Offer. See Sections 1 and 6. • Therefore, we may not purchase all of the Shares that you tender even if you tender them at or below the purchase price. See Section 1. Has Mylan or its Board of Directors adopted a position on the Offer? • Our Board of Directors has approved the...
must_tender_all = True...hares at or below the Purchase Price conditionally (for which the condition was not initially satisfied), by random lot, to the extent feasible. To be eligible for purchase by random lot, shareholders whose Shares are conditionally tendered must have properly tendered all of their Shares and not properly withdrawn them before the expiration of the Offer. See Section 6 of the Offer to Purchase. WE ARE THE HOLDER OF RECORD OF SHARES HELD FOR YOUR ACCOUNT. A TENDER OF SUCH SHARES CAN BE MADE ONLY BY US AS THE HOLDER OF RECORD AND PURSUANT TO YOUR INSTRUCTIONS. THE LETTER OF TRANSMITTAL IS FURNISHED TO YOU FOR YOUR INFORMATI...
no_priority = True...shareholders whose Shares are conditionally tendered must have tendered all of their Shares. Odd Lots. The term “Odd Lots” means all Shares tendered by any person (an “Odd Lot Holder”) who owned beneficially or of record an aggregate of fewer than 100 Shares. Odd Lots will be accepted for payment at the same time as other tendered Shares and will be subject to proration if the Offer is oversubscribed. Proration. If proration of tendered Shares is required, we will determine the proration factor promptly following the Expiration Date. Proration for each shareholder tendering Shares (including Odd Lot Holders) will be based on the ratio of the number of Shares tendered by the shareholder to the total numb...
price = USD 18.0-20.5...re commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your Shares. The price range for the Offer is $18.00 to $20.50 per Share. See Section 1. • We will select the lowest price per Share (the “Purchase Price”) that will allow us to buy 48,780,487 Shares or, if a lesser number of Shares are properly tendered, all Shares that are proper...
txn_type = TENDER_OFFEREX-99.A.1.A 2 y09827exv99waw1wa.htm EX-99.A.1.A: OFFER TO PURCHASE EX-99.A.1.A Table of Contents Exhibit (a)(1)(A) MYLAN LABORATORIES INC. OFFER TO PURCHASE FOR CASH UP TO 48,780,487 SHARES OF ITS COMMON STOCK (INCLUDING THE ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS) AT A PURCHASE PRICE NOT GREATER THAN $20.50 NOR LESS THAN $18.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE...
txn_type = TENDER_OFFEREX-99.A.1.F 4 y09827a1exv99waw1wf.htm EX-99.A.1.F: LETTER TO CLIENTS FOR USE BY BROKERS, DEALERS, BANKS, TRUST COMPANIES AND OTHER NOMINEES EX-99.A.1.F MYLAN LABORATORIES INC. OFFER TO PURCHASE FOR CASH UP TO 48,780,487 SHARES OF ITS COMMON STOCK (INCLUDING THE ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS) AT A PURCHASE PRICE NOT GREATER THAN $20.50 NOR LESS THAN $18.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JULY 15, 2005, UNLESS THE OFFER IS EXTENDED....
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2005-06-16 | SC TO-I | original (governing) | View |
| 2005-06-17 | SC TO-I/A | amendment | View |