Cornerstone Therapeutics Inc. Announces Retention of Advisors
CARY, NC -- (Marketwire) -- 03/20/13 -- Cornerstone Therapeutics
Inc. (NASDAQ: CRTX) (the "Company") announced today that the Special
Committee of its Board of Directors (the "Special Committee") has
retained Lazard to act as its independent financial advisor and
Clifford Chance US LLP to act as its independent legal counsel to
assist the Special Committee in its work. As the Company previously
announced on February 25, 2013, the Board of Directors formed a
Special Committee of independent directors to consider, among other
things, a proposal from Chiesi Farmaceutici SpA ("Chiesi") to acquire
the shares of the Company's common stock that it does not already own
for a cash purchase price of between $6.40 and $6.70 per share,
subject to certain conditions.
The Company cautions its stockholders and others considering trading
in its common stock that no decisions have been made by the Board of
Directors or the Special Committee with respect to Chiesi's proposal.
There can be no assurance that any agreement based on Chiesi's
proposal will be approved or recommended by the Special Committee, or
that any transaction will be entered into or consummated. The Company
does not anticipate making any further public statements regarding
these matters unless and until either it enters into a definitive
agreement for a transaction or the Special Committee determines that
no such transaction will be effected, or it otherwise deems further
disclosure is appropriate or required by law.
About Cornerstone Therapeutics
Cornerstone Therapeutics Inc. (NASDAQ: CRTX), headquartered in Cary,
N.C., is a specialty pharmaceutical company focused on
commercializing products for the hospital and adjacent specialty
markets. Key elements of the Company's strategy are to focus its
commercial and development efforts in the hospital and adjacent
specialty product sector within the U.S. pharmaceutical marketplace;
continue to seek out opportunities to acquire companies, marketed or
registration-stage products and late-stage development products that
fit within the Company's focus areas; and generate revenues by
marketing approved generic products through the Company's
wholly-owned subsidiary, Aristos Pharmaceuticals, Inc. For more
information, visit www.crtx.com.
Investor Relations Contact:
Vice President, Strategy and Business Development
Press spacebar to pause and continue. Press esc to stop.