-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U2yhI5NrpGGTRt5S/51sRxw62wtTcoyfdWOuQ1tGEmgY+uo0lMa/GdhKvaGxWUMc di5snWKI4MYVPDnDaeJvFg== /in/edgar/work/0000912057-00-043312/0000912057-00-043312.txt : 20001003 0000912057-00-043312.hdr.sgml : 20001003 ACCESSION NUMBER: 0000912057-00-043312 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000918 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001002 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHIRON CORP CENTRAL INDEX KEY: 0000706539 STANDARD INDUSTRIAL CLASSIFICATION: [2834 ] IRS NUMBER: 942754624 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-12798 FILM NUMBER: 733319 BUSINESS ADDRESS: STREET 1: 4560 HORTON ST CITY: EMERYVILLE STATE: CA ZIP: 94608 BUSINESS PHONE: 5106558730 8-K 1 a2026068z8-k.txt 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): September 18, 2000 Chiron Corporation - ------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-12798 94-2754624 - ------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 4560 Horton Street, Emeryville, CA 94608 - ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (510) 655-8730 ----------------- N/A - ------------------------------------------------------------------------------- (Former name or former address, if changed since last report) ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS. On September 18, 2000, Picard Acquisition Corp. ("Picard"), a Delaware corporation and a wholly-owned subsidiary of Chiron Corporation ("Chiron" or "Registrant"), acquired 15,962,011 shares, or approximately 96% of the outstanding shares, of common stock, par value $0.001 per share (the "Common Stock"), together with the associated rights to purchase Series A Junior Preferred Stock, of PathoGenesis Corporation, a Delaware corporation ("PathoGenesis"), through a cash tender offer (the "Tender Offer") at $38.50 per share. The Tender Offer was effected pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), dated as of August 13, 2000, among Chiron, Picard and PathoGenesis. Following the Tender Offer, on September 21, 2000, Picard merged with and into PathoGenesis under Section 253 of the General Corporation Law of the State of Delaware (the "Merger"), and PathoGenesis became a wholly-owned subsidiary of Registrant, with each remaining outstanding share of PathoGenesis Common Stock converted into the right to receive $38.50 per share pursuant to the Merger Agreement. Chiron acquired all of the outstanding voting securities of PathoGenesis for an aggregate consideration of approximately $700 million in cash. The purchase price of $38.50 for each share of PathoGenesis Common Stock was established by negotiation at the time of the Merger Agreement. The acquisition consideration was paid by Chiron from its available cash and cash equivalents and through liquidation of certain of its long-term investments in marketable debt securities. Seattle-based PathoGenesis develops and commercializes drugs to treat chronic infectious diseases - particularly serious lung infections, including those common in cystic fibrosis, bronchiectasis and ventilator patients. PathoGenesis' first drug, TOBI-Registered Trademark (tobramycin solution for inhalation), is approved for the management of cystic fibrosis patients with pseudomonas aeruginosa lung infections. PathoGenesis' Common Stock, previously traded on the Nasdaq National Market System under the symbol "PGNS", was deregistered following the merger. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (a) Financial statements of business acquired. Financial statements required by this Item are not included in this initial report on Form 8-K. Such financial statements will be filed by amendment not later than December 2, 2000. 2 (b) Pro forma financial information. Pro forma financial information required by this Item is not included in this initial report on Form 8-K. Such pro forma financial information will be filed by amendment not later than December 2, 2000. (c) Exhibits. EXHIBIT NUMBER 99.1 Press Release issued by Registrant on September 19, 2000, announcing the acquisition of approximately 96% of the outstanding voting securities of PathoGenesis Corporation pursuant to completion of a cash tender offer by Registrant's wholly-owned subsidiary, Picard Acquisition Corp. on September 18, 2000, referred to in Item 2 above.(1) 99.2 Press release issued by Registrant on September 22, 2000, announcing the merger of PathoGenesis into Registrant's wholly-owned subsidiary, Picard Acquisition Corp., pursuant to which PathoGenesis Corporation became a wholly-owned subsidiary of Registrant as of September 21, 2000, referred to Item 2 above. ------- (1) Incorporated by reference to Exhibit (a) (16) of Registrant's Schedule TO filed with the Securities and Exchange Commission on September 19, 2000. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CHIRON CORPORATION Date: October 2, 2000 By: /s/ WILLIAM G. GREEN -------------------- William G. Green Senior Vice President, General Counsel and Secretary 4 EX-99.2 2 a2026068zex-99_2.txt EXHIBIT 99.2 Exhibit 99.2 FOR IMMEDIATE RELEASE CONTACTS: Vince Barella Shelley Schneiderman Manager, Associate Manager, Corporate Communications & Corporate Communications & Investor Relations Investor Relations (510) 923-2138 (510) 923-6905 CHIRON CORPORATION COMPLETES ACQUISITION OF PATHOGENESIS CORPORATION EMERYVILLE, CA, SEPTEMBER 22, 2000 - Chiron Corporation (Nasdaq: CHIR) announced today the completion of the acquisition of PathoGenesis Corporation (Nasdaq: PGNS) by Picard Acquisition Corp., a wholly owned subsidiary of Chiron Corporation. The merger follows a cash tender offer for all outstanding shares of PathoGenesis common stock at $38.50 per share, which was completed at midnight, New York City time, on September 18, 2000. As a result of the merger, each outstanding share of PathoGenesis not owned by Chiron, its subsidiaries or PathoGenesis has been automatically converted into the right to receive $38.50 in cash. PathoGenesis shareholders who did not tender their shares into the tender offer will receive a Notice of Merger and a Letter of Transmittal that will instruct them as to how to receive the $38.50 per share or, in the alternative, exercise appraisal rights under Delaware law. ABOUT CHIRON CORPORATION Chiron Corporation, headquartered in Emeryville, California, is a leading biotechnology company that participates in three global healthcare markets: biopharmaceuticals, vaccines, and blood testing. The company is applying a broad and integrated scientific approach to the development of innovative products for preventing and treating cancer, infection and cardiovascular disease. For more information about Chiron, visit the company's web site at HTTP://WWW.CHIRON.COM. THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES. A FULL DISCUSSION OF CHIRON'S OPERATIONS AND FINANCIAL CONDITION, INCLUDING FACTORS THAT MAY AFFECT ITS BUSINESS AND FUTURE PROSPECTS, IS CONTAINED IN DOCUMENTS THE COMPANY FILES WITH THE SEC, SUCH AS FORM 10-Q AND FORM 10-K. THESE DOCUMENTS IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL PERFORMANCE TO DIFFER FROM CURRENT EXPECTATIONS, INCLUDING THE OUTCOME OF CLINICAL TRIALS, REGULATORY REVIEW, MANUFACTURING CAPABILITIES AND MARKETING. ### -----END PRIVACY-ENHANCED MESSAGE-----