Cubist Pharmaceuticals, Inc. CBST today announced the commencement
of its tender offer for all outstanding shares of the common stock of Adolor
Corporation ADLR for $4.25 per share in cash, plus one
nontransferable Contingent Payment Right (CPR) entitling the holder to receive
additional cash payments of up to $4.50 for each share tendered if certain
regulatory approvals and/or commercialization milestones for ADL5945 are
achieved. The tender offer is being made by FRD Acquisition Corporation, a
wholly-owned subsidiary of Cubist, pursuant to the previously announced
Agreement and Plan of Merger, dated as of October 24, 2011, for Cubist to
acquire Adolor.
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