UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C.
20549
SCHEDULE TO/A
Tender
Offer Statement under Section 14(d)(1) or 13(e)(1)
of
the Securities Exchange Act of 1934
(Amendment
No. 6)
PHARMANET
DEVELOPMENT GROUP, INC.
(Name of
Subject Company (Issuer))
PDGI ACQUISITION CORP.
(Offeror)
JLL PHARMANET HOLDINGS, LLC
(Parent of Offeror)
JLL
PARTNERS FUND V, L.P.
JLL
PARTNERS FUND VI, L.P.
(Name of
Filing Persons)
Common
Stock, par value $0.001 per share
(Title of
Class of Securities)
717148100
(CUSIP
Number of Class of Securities)
PDGI
Acquisition Corp.
c/o
JLL Partners, Inc.
450
Lexington Avenue, 31st Floor
New
York, NY 10017
Attention: Peter
M. Strothman
Tel:
212-286-8600
(Name,
Address and Telephone Numbers of Person Authorized
to
Receive Notices and Communications on Behalf of Filing Persons)
Copy
to:
Steven J.
Daniels, Esq.
One
Rodney Square
P.O. Box
636
Wilmington,
Delaware 19899
Tel:
302-651-3000
CALCULATION
OF FILING FEE
Transaction
Valuation(1)
|
|
Amount of Filing
Fee(2)
|
$99,072,755
|
|
$3,894
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_____________
(1)
|
Estimated
solely for purposes of calculating the filing fee. The transaction value
was determined by multiplying the offer price of $5.00 net per share in
cash by 19,814,551, which is the sum of (i) 19,797,146 shares of common
stock, par value $0.001 per share, of PharmaNet Development Group, Inc.
(“PharmaNet”) outstanding as of February 2, 2009, as represented by
PharmaNet in the Merger Agreement (as defined herein) and (ii) 17,405
shares of common stock that PharmaNet expects to be issuable before the
expiration of the Offer in connection with outstanding Restricted Stock
Unit awards issued by PharmaNet, based on information provided by
PharmaNet.
|
(2)
|
The
filing fee was calculated in accordance with Rule 0-11 under the
Securities Exchange Act of 1934, as amended, by multiplying the
transaction value by 0.0000393.
|
■
|
Check
the box if any part of the fee is offset as provided by Rule 0-11
(a) (2) and identify the filing with which the offsetting fee
was previously paid. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its
filing.
|
|
|
|
Amount
Previously Paid: $3,894
|
|
Filing
Party: PDGI Acquisition Corp., JLL PharmaNet Holdings, LLC, JLL Partners
Fund V, L.P. and JLL Partners Fund VI, L.P.
|
Form
or Registration No.: Schedule TO
|
|
Date
Filed: February 12, 2009
|
o
|
Check
the box if the filing relates solely to preliminary communications made
before the commencement of a tender offer.
|
Check
the appropriate boxes below to designate any transactions to which the
statement relates:
|
■
|
third-party
tender offer subject to Rule 14d-1.
|
o
|
issuer
tender offer subject to Rule 13e-4.
|
o
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going-private
transaction subject to Rule 13e-3.
|
o
|
amendment
to Schedule 13D under Rule 13d-2.
|
Check
the following box if the filing is a final amendment reporting the results
of the tender offer:
o
|
This
Amendment No. 6 (“Amendment No. 6”) further amends the Tender Offer Statement on
Schedule TO (the “Schedule TO”) filed with the Securities and Exchange
Commission on February 12, 2009, as amended on February 19, 2009, February 23,
2009, March 5, 2009, March 13, 2009 and March 18, 2009 by PDGI Acquisition
Corp., a Delaware corporation (“Purchaser”), JLL PharmaNet Holdings, LLC, a
Delaware limited liability company and Purchaser’s sole stockholder (“Parent”),
JLL Partners Fund V, L.P., a Delaware limited partnership (“JLL Fund V”), and
JLL Partners Fund VI, L.P., a Delaware limited partnership (together with JLL
Fund V, the “Sponsors”), which relates to the offer by Purchaser to purchase all
outstanding shares of common stock, par value $0.001 per share, of PharmaNet
Development Group, Inc., a Delaware corporation (“PharmaNet”), and the
associated rights to purchase shares of Series A Junior Participating Preferred
Stock, par value $0.10 per share, of PharmaNet (collectively, the “Shares”), at
a price of $5.00 per Share, net to the seller in cash, without interest and less
any applicable withholding taxes, upon the terms and subject to the conditions
set forth in the Offer to Purchase dated February 12, 2009 (as it may be amended
or supplemented from time to time, the “Offer to Purchase”) and the related
Letter of Transmittal (as it may be amended or supplemented from time to time,
the “Letter of Transmittal” and, together with the Offer to Purchase, the
“Offer”), which are annexed to, and filed with, the Schedule TO as Exhibits
(a)(1)(A) and (a)(1)(B), respectively. The Offer is being made in
connection with the Agreement and Plan of Merger, dated as of February 3, 2009
(as it may be amended or supplemented from time to time, the “Merger
Agreement”), by and among Parent, Purchaser and PharmaNet, a copy of which is
attached as Exhibit (d)(1) to the Schedule TO, and is incorporated herein by
reference with respect to Item 11 of this Amendment No. 6.
Purchaser
and Parent are affiliates of the Sponsors. This Amendment No. 6 is
being filed on behalf of Purchaser, Parent and the Sponsors.
Unless
otherwise indicated, references to sections in this Amendment No. 6 are
references to sections of the Offer to Purchase. The information set
forth in the Offer to Purchase, including Schedule I thereto, is hereby
incorporated by reference with respect to Item 11 of this Amendment No. 6, and
is supplemented by the information specifically provided
herein. Except as otherwise indicated, the information set forth in
the Schedule TO remains unchanged. All capitalized terms used in this
Amendment No. 6 without definition have the meanings ascribed to them in the
Schedule TO or the Offer to Purchase.
This
Amendment No. 6 is filed solely for the following purposes: to announce the
results of the Offer, to announce the commencement of a subsequent offering
period and to supplement Item 12 with an additional exhibit.
ITEM
11. ADDITIONAL INFORMATION.
Item 11
of the Schedule TO is hereby amended and supplemented as follows:
“Based on
information from the Depositary, as of 12:00 midnight, New York City time, on
Thursday, March 19, 2009 (the “Expiration Date”), a total of 17,876,946 Shares (
in addition to 4,636,682 Shares delivered through notices of guaranteed
delivery) were validly tendered and not withdrawn pursuant to the Offer,
representing approximately 90.3% of the currently outstanding
Shares.
The
number of Shares tendered pursuant to the Offer satisfies the Minimum Condition.
Purchaser has accepted for payment all Shares validly tendered and not
withdrawn prior to the Expiration Date and will make payment to the
Depositary for the accepted Shares promptly.
On
March 20, 2009, Parent and PharmaNet issued a joint press release
announcing that Purchaser has accepted for payment all Shares that were validly
tendered and not withdrawn prior to the Expiration Date of the
Offer. Parent also announced that Purchaser has elected to provide a
Subsequent Offering Period, which will commence immediately and will expire at
5:00 p.m., New York City time, on March 27, 2009. The full text of the
press release is attached as Exhibit (a)(5)(C) to the Schedule TO and is
incorporated herein by reference.
All
Shares validly tendered during the Subsequent Offering Period will be
accepted and stockholders who tender their Shares pursuant to the Offer during
the Subsequent Offering Period will receive the same Offer Price paid to
tendering stockholders who tendered their Shares pursuant to the Offer during
the offering period. The procedures for accepting the Offer and tendering Shares
during the Subsequent Offering Period are the same as
those
described for the Offer, except that (i) the guaranteed delivery procedures
may not be used during the Subsequent Offering Period and (ii) Shares
tendered during the Subsequent Offering Period may not be
withdrawn.”
ITEM
12. EXHIBITS.
Item 12
of the Schedule TO is hereby amended and restated in its entirety to read as
follows:
(a)(1)(A)*
|
Offer
to Purchase, dated February 12, 2009
|
(a)(1)(B)*
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Form
of Letter of Transmittal
|
(a)(1)(C)*
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Form
of Notice of Guaranteed Delivery
|
(a)(1)(D)*
|
Form
of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other
Nominees
|
(a)(1)(E)*
|
Form
of Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust
Companies and Other Nominees
|
(a)(1)(F)*
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Internal
Revenue Service Form W-9 (Request for Taxpayer Identification Number and
Certification), including instructions for completing the
form
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(a)(1)(G)*
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Joint
Press Release, dated February 3, 2009, of PharmaNet and Parent
(incorporated by reference to Exhibit 99.1 to the Current Report on Form
8-K filed by PharmaNet with the Securities and Exchange Commission on
February 3, 2009)
|
(a)(1)(H)*
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Joint
Press Release, dated February 12, 2009, of PharmaNet and
Parent
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(a)(1)(I)*
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Form
of summary advertisement, published February 12, 2009 in The Wall Street
Journal
|
(a)(5)*
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Section
262 of the DGCL
|
(a)(5)(A)*
|
Press
Release, dated March 13, 2009, of Parent
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(a)(5)(B)*
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Press
Release, dated March 18, 2009, of Parent
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(a)(5)(C)
|
Joint
Press Release, dated March 20, 2009, of PharmaNet and
Parent
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(d)(1)*
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Agreement
and Plan of Merger, dated as of February 3, 2009, by and among Parent,
Purchaser and PharmaNet (incorporated by reference to Exhibit 2.1 to the
Current Report on Form 8-K filed by PharmaNet with the Securities and
Exchange Commission on February 3, 2009)
|
(d)(2)*
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Confidentiality
Agreement, dated as of December 1, 2008, by and between JLL Partners, Inc.
and PharmaNet
|
*- Filed
previously
SIGNATURE
After due
inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and
correct.
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PDGI
Acquisition Corp.
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By:
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/s/
Paul S. Levy
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Name:
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Paul
S. Levy
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Title:
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President
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JLL
PharmaNet Holdings, LLC
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|
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By:
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/s/
Paul S. Levy
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Name:
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Paul
S. Levy
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Title:
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President
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JLL
Partners Fund V, L.P.
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By:
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JLL
Associates V, L.P.
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Its:
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General
Partner
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By:
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JLL
Associates, G.P. V, L.L.C.
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Its:
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General
Partner
|
|
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|
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By:
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/s/
Paul S. Levy
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Name:
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Paul
S. Levy
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Title:
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Managing
Member
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JLL
Partners Fund VI, L.P.
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By:
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JLL
Associates VI, L.P.
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Its:
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General
Partner
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By:
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JLL
Associates, G.P. VI, L.L.C.
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Its:
|
General
Partner
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|
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|
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By:
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/s/
Paul S. Levy
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Name:
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Paul
S. Levy
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Title:
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Managing
Member
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Dated: March 20, 2009
EXHIBIT
INDEX
The
Exhibit Index is hereby amended and restated in its entirety as
follows:
(a)(1)(A)*
|
Offer
to Purchase, dated February 12, 2009
|
(a)(1)(B)*
|
Form
of Letter of Transmittal
|
(a)(1)(C)*
|
Form
of Notice of Guaranteed Delivery
|
(a)(1)(D)*
|
Form
of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other
Nominees
|
(a)(1)(E)*
|
Form
of Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust
Companies and Other Nominees
|
(a)(1)(F)*
|
Internal
Revenue Service Form W-9 (Request for Taxpayer Identification Number and
Certification), including instructions for completing the
form
|
(a)(1)(G)*
|
Joint
Press Release of PharmaNet, dated February 3, 2009, of PharmaNet and
Parent (incorporated by reference to Exhibit 99.1 to the Current Report on
Form 8-K filed by PharmaNet with the Securities and Exchange Commission on
February 3, 2009)
|
(a)(1)(H)*
|
Joint
Press Release, dated February 12, 2009, of PharmaNet and
Parent
|
(a)(1)(I)*
|
Form
of summary advertisement, published February 12, 2009 in The Wall Street
Journal
|
(a)(5)*
|
Section
262 of the DGCL
|
(a)(5)(A)*
|
Press
Release, dated March 13, 2009, of Parent
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(a)(5)(B)*
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Press
Release, dated March 18, 2009, of Parent
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(a)(5)(C)
|
Joint
Press Release, dated March 20, 2009, of PharmaNet and
Parent
|
(d)(1)*
|
Agreement
and Plan of Merger, dated as of February 3, 2009, by and among Parent,
Purchaser and PharmaNet (incorporated by reference to Exhibit 2.1 to the
Current Report on Form 8-K filed by PharmaNet with the Securities and
Exchange Commission on February 3, 2009)
|
(d)(2)*
|
Confidentiality
Agreement, dated as of December 1, 2008, by and between JLL Partners, Inc.
and PharmaNet
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* - Filed
previously
6
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