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Schering-Plough Corporation Announces Commencement of Public Offering of Common Shares and Mandatory Convertible Preferred Stock.

Publication: PR Newswire
Publication Date: 02-AUG-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
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 Schering-Plough.

The global coordinator for these offerings will be Goldman,...

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