sc14d9za
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14D-9
SOLICITATION/RECOMMENDATION STATEMENT UNDER
SECTION 14(d)(4) OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
AnorMED Inc.
(Name of Subject Company)
AnorMED Inc.
(Name of Persons Filing Statement)
Common Shares
(Title of Class of Securities)
035910108
(CUSIP Number of Class of Securities)
William J. Adams
Vice President, Finance, Chief Financial Officer,
Secretary and Treasurer
200-20353 64th Avenue
Langley, British Columbia
Canada V2Y 1N5
(604) 530-1057
(Name, address and telephone number of person authorized to receive notices
and communications on behalf of filing persons)
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Copies to: |
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R. Hector MacKay-Dunn, Q.C.
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Daniel M. Miller |
Ronald G. Murray
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Dorsey & Whitney LLP |
Farris, Vaughan, Wills & Murphy LLP
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Suite 1605 |
25th Floor
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777 Dunsmuir Street |
700 West Georgia Street
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P.O. Box 10444, Pacific Centre |
Vancouver, B.C.
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Vancouver, B.C. |
Canada V7Y 1B3
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Canada V7Y 1K4 |
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Check the box if the filing relates solely to preliminary communications made before
the commencement of a tender offer. |
TABLE OF CONTENTS
This Amendment No. 2 amends and supplements the Solicitation/Recommendation Statement on
Schedule 14D-9 (the Statement) initially filed by AnorMED Inc. with the U.S. Securities and
Exchange Commission on October 5, 2006, relating to the tender offer (the Millennium Offer) made
by Sidney Acquisitions ULC (Sidney), an Alberta unlimited liability corporation and an indirect
wholly-owned subsidiary of Millennium Pharmaceuticals, Inc. (Millennium and together with Sidney,
the Offerors), a Delaware corporation, for all of the common shares of AnorMED Inc. The terms
and conditions of the Millennium Offer are set forth in the Offer to Purchase for Cash and Circular
of the Offerors, dated October 5, 2006 (the Tender Offer Circular). The Tender Offer Circular
has been filed by the Offerors with the U.S. Securities and Exchange Commission as part of a Tender
Offer Statement on Schedule TO (as it may be amended or supplemented from time to time, the
Schedule TO), which includes information required to be reported under Rule 14d-3 of the
Securities Exchange Act of 1934, as amended. The Schedule TO was initially filed by the Offerors
on October 5, 2006.
In connection with the Millennium Offer, the Companys board of directors has prepared a
directors circular (the Directors Circular), dated October 5, 2006, pursuant to applicable
securities laws in Canada and the United States. The Directors Circular has been mailed to
AnorMED shareholders, was filed as Exhibit (a)(2)(A) to the initial filing of this Statement, and
is incorporated by reference into this Statement in its entirety. Capitalized terms used herein
and not defined herein have the respective meanings assigned to such terms in the Directors
Circular.
Item 8. ADDITIONAL INFORMATION
Item 8 is hereby amended and supplemented as follows:
On October 10, 2006, AnorMED Inc. announced that it had received a proposal from Genzyme
Corporation, acting through Dematal Corp., to amend the previously commenced tender offer to
acquire all of the outstanding common shares of AnorMED from US$8.55 in cash per share to US$13.50
in cash per share. Genzymes proposal indicates that the transaction would be fully financed from
Genzymes existing cash and that the transaction is not subject to any financing contingency or
financing arrangements.
Genzymes proposal is conditioned upon (1) AnorMED determining that Genzymes proposal
constitutes a superior proposal (as such term is used in AnorMEDs support agreement with
Millennium and notifying Millennium of that determination on or prior to 4:00 p.m. (Vancouver time)
on Wednesday, October 11, 2006, and (2) AnorMED executing a support agreement with Genzyme on or
prior to 5:30 p.m. (Boston time) on Tuesday, October 17, 2006.
Genzyme has requested certain non-public information provided by AnorMED to Millennium in
connection with the Millennium support agreement. Genzyme has indicated that its proposal
contemplates that no new materially adverse information regarding AnorMED is disclosed to Genzyme
in such information.
Genzyme has provided AnorMED with a proposed form of support agreement, which Genzyme
indicates is substantially the same as the Millennium support agreement. Genzymes
proposed
support agreement contemplates that Genzyme would enter into shareholder support
agreements with Kenneth Galbraith, AnorMEDs Chairman and Interim Chief Executive Officer, and
the Baker Brothers affiliates.
AnorMED intends to review Genzymes proposal and have its Board of Directors determine, after
receiving the advice of its financial and legal advisors, whether or not Genzymes proposal
constitutes a superior proposal under the Millennium support agreement. As part of this process,
AnorMED is reviewing the differences between support agreement proposed by Genzyme and the existing
Millennium support agreement. Certain of these differences may be considered by AnorMEDs Board of
Directors to be substantial. Changes to the proposed support agreement with Genzyme may be
considered necessary by AnorMEDs Board of Directors in the current circumstances for Genzymes
proposal to be a superior proposal, to ensure that the Board of Directors is protecting shareholder
interests and to maximize shareholder value.
Under the terms of the Millennium support agreement, AnorMED can withdraw, modify or change
its support regarding the Millennium tender offer, or approve, recommend or enter into an agreement
in respect of a superior proposal, only in the instance that its Board of Directors receives a
superior proposal prior to the expiry of the Millennium tender offer. Millennium is entitled to not
less than three business days from the date of notice from AnorMED of the superior proposal to
exercise its right to match such superior proposal. If AnorMEDs Board of Directors accepts a
superior proposal after Millennium decides not to match such a proposal, Millennium may be entitled
to a payment of US$19.5 million from AnorMED.
AnorMEDs Board of Directors has not determined that the Genzyme proposal is a superior
proposal as defined in the Millennium support agreement. Accordingly, AnorMEDs Board of Directors
continues to recommend that shareholders accept the tender offer by Millennium to acquire all of
the outstanding common shares of AnorMED for a price of US$12.00 per share in cash.
AnorMEDs Board of Directors maintains its unanimous recommendation for shareholders to reject
Genzymes tender offer of US$8.55 per common share in cash and not to tender their common shares to
Genzyme.
A copy of AnorMEDs press release, dated October 10, 2006, with respect to the matters
described above is attached hereto as Exhibit (a)(2)(C). The section of the press release entitled
FORWARD LOOKING STATEMENTS is hereby incorporated herein by reference.
Item 9. EXHIBITS
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Exhibit |
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Description |
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(a)(2)(C)
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News release, dated October 10, 2006 |
SIGNATURES
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.
Dated: October 10, 2006
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ANORMED INC.
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By: |
/s/ William J. Adams
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Name: |
William J. Adams |
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Title: |
Vice President, Finance, Chief Financial
Officer, Secretary and Treasurer |
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EXHIBIT INDEX
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Exhibit |
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Description |
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(a)(2)(A)*
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Directors Circular, dated October 5, 2006 |
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(a)(2)(B)*
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Press release of AnorMED Inc., dated October 5, 2006 |
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(a)(2)(C)
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News release, dated October 10, 2006 |
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(e)(1)*
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Support Agreement, dated as of September 26, 2006, between the
Company and Millennium (previously filed with the SEC on
Schedule 14D-9 on September 29, 2006) |
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(e)(2)*
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Shareholder Support Agreement, dated as of September 26, 2006,
between Felix Baker and Millennium |
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(e)(3)*
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Shareholder Support Agreement, dated as of September 26, 2006,
between Kenneth Galbraith and Millennium |
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(g)(1)*
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Information Agent Script for Outgoing Calls (previously filed
with the SEC on Schedule 14D-9 on October 2, 2006) |
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(g)(2)*
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Information Agent Script for Incoming Calls (previously filed
with the SEC on Schedule 14D-9 on October 5, 2006) |