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C&D tender offer

This article was originally published in The Rose Sheet

Executive Summary

Church & Dwight has commenced a cash tender offer and consent solicitation for "any and all" outstanding 9 ½% senior subordinated notes originally issued by Armkel and due 2009, company reports Nov. 22. The tender offer will expire at 5 p.m. EST on Dec. 21, "unless extended or earlier terminated," the firm noted. Church & Dwight will finance the tender offer with "proceeds from a private placement of senior subordinated notes" in an aggregate principal amount of $175 mil., firm adds. In connection with the tender offer, the company is offering to make a consent payment of $30 per $1,000 principal amount of the notes to holders who validly tender their notes prior to the deadline. J.P Morgan Securities has been engaged to act as the dealer manager...
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