Icahn Enterprises L.P. Announces Expiration of Tender Offer for Any and All of the Outstanding 4.50% Convertible Senior Notes Due 2020 of VIVUS, Inc.

NEW YORK, Oct. 8, 2015 (GLOBE NEWSWIRE) — IEH Biopharma LLC (the “Offeror”), a subsidiary of Icahn Enterprises L.P. (NASDAQ:IEP), announced today that its previously announced cash tender offer (the “Offer”) for any and all of the outstanding 4.50% Convertible Senior Notes due 2020 of VIVUS, Inc. (the “Notes”), expired at 5:00 p.m., New York City time, on October 7, 2015 (the “Expiration Date”). The Offer was made pursuant to an Offer to Purchase, dated September 9, 2015, and the related Letter of Transmittal, dated September 9, 2015, which set forth the terms of the Offer.

As of the Expiration Date, the Offeror received tenders for $170,165,000 aggregate principal amount (or 68%) of the issued and outstanding Notes, which satisfied the minimum condition of the Offer. The remaining conditions upon which the consummation of the Offer was subject have also been satisfied. As a result, the Offeror will pay $680 for each $1,000 of principal amount of Notes validly tendered and not validly withdrawn, plus accrued but unpaid interest from the last interest payment date up to, but excluding, the date of payment for the Notes by the Offeror, which is expected to be October 9, 2015.

Icahn Enterprises L.P. (NASDAQ:IEP), a master limited partnership, is a diversified holding company engaged in ten primary business segments: Investment, Automotive, Energy, Metals, Mining, Railcar, Gaming, Food Packaging, Real Estate and Home Fashion.

Caution Concerning Forward-Looking Statements

This release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.

CONTACT: Investor Contacts:
         SungHwan Cho, Chief Financial Officer
         Peter Reck, Chief Accounting Officer
         (212) 702-4300

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