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Article: Schering-Plough Corporation Announces Commencement of Public Offering of Common Shares and Mandatory Convertible Preferred Stock.
- Article from:
- PR Newswire
- Article date:
- August 2, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KENILWORTH, N.J., Aug. 2 /PRNewswire-FirstCall/ -- Schering-Plough Corporation announced today that it has commenced a registered public offering of 50,000,000 common shares. The underwriters have an option to purchase up to an additional 7,500,000 common shares from Schering-Plough.
Schering-Plough also announced that it has concurrently commenced a registered public offering of $2,500,000,000 of its mandatory convertible preferred stock. The offering will consist of 10,000,000 shares with a liquidation preference of $250 per share. The underwriters have an option to purchase up to an additional 1,500,000 shares of mandatory convertible preferred stock from ...